The Inflation Reduction Act (IRA) includes modified tax incentives for the purchase of qualifying electric vehicles (EVs). The European Union (EU) contends that the IRA’s EV tax incentives put European automotive manufacturers at a competitive disadvantage. This concern was discussed at a recent U.S.-EU Trade and Technology Council (TTC) meeting. The EU is at odds with the fact that qualifying “clean” vehicles must be assembled in North America. U.S. Secretary of State Antony Blinken said that a task force is now in place to address the EU’s concerns. Blinken added, “I’m convinced that we’re continuing to give momentum to that conversation and to working through the differences.” Stay tuned. Call or visit our website for more information! www.mjscpa.com/
