S.Korea to review filing WTO complaint over U.S. Inflation Reduction Act -industry minister

By Thomson Reuters Aug 22, 2022 | 4:47 AM

SEOUL (Reuters) – South Korea will review whether to file a complaint at the World Trade Organization (WTO) over the U.S. Inflation Reduction Act, citing possibilities that the new law could violate WTO rules and a bilateral free trade deal, South Korea’s industry minister said on Monday.

The law signed last week by U.S. President Joe Biden excludes electric vehicles (EVs) assembled outside North America from tax credits in the United States.

(Reporting by Heekyong Yang and JoyceLee; Editing by Toby Chopra)