Tokyo For some it is a success, for others it is a betrayal: With the recently passed Inflation Reduction Act (IRA), US President Joe Biden is turning his allies Japan and South Korea against him. Now Seoul is even considering filing a lawsuit against the ally at the World Trade Organization.
Cause of the scandal: The massive investment program in the USA largely excludes electric cars from abroad and thus also from East Asia from subsidies. This is an economic catastrophe for East Asian countries.
According to political observers, the affair is a particularly blatant example of how the United States is jeopardizing relations with its close allies with protectionist measures. In view of the geopolitical confrontations with the Asian superpower China, Washington’s unconditional solidarity with South Korea and Japan would be of central importance – instead, an economic dispute is now polluting the atmosphere.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue