BY MUKUL SINGH

Japan Says Inflation Reduction Act May Be Illegal

Japan Says Inflation Reduction Act May Be Illegal

Recently, the US congress passed the Inflation Reduction Act

Capitol/ Spunout

It might be beneficial for the US government but many countries have raised their voice against this act

Capitol/ US Bank

Japan is among those countries who said that this act violates the International law

Japan Flag/ Unsplash

Japan's industry minister has talked to his American counterpart about this act

Japan Flag/ Unsplash

South Korea and Germany are also against this act

German Flag/ Mappr

They are saying such acts weaken the economic alliance and promote discrimination against other nations

Electric Vehicle/ Rest Bet 403

Many countries are looking forward to discussing this issue with President Biden and his government

Joe Biden/ the Guardian

If the US does not make changes to this act then the countries might file a complaint with the WTO

WTo/ WTO

This act is making it very difficult for EV makers to fight the competitive market

Volkswagen EV/ Business Insider