Xinhua: China’s Auto Industry Rejects US Inflation Reduction Act Measures

TL/DR –

The China Association of Automobile Manufacturers (CAAM) has declared its firm opposition to measures under the U.S. Inflation Reduction Act, stating that such measures lack economic basis and would disrupt the world’s industrial chains. The CAAM is particularly against the U.S. plan to raise tariffs on imported vehicles and auto parts. They argue that the move would cause harm to consumers and businesses in both countries, as well as stifle innovation in the automobile industry.

China’s Automotive Industry Responds to U.S. Inflation Reduction Act Measures

China’s automobile industry has publicly voiced opposition towards specific measures under the U.S. Inflation Reduction Act. This highlights the ongoing concerns of international industries regarding U.S. economic regulations. Read the full story at Xinhua News.

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