Thursday, Feb 22 2024 | Time 17:49 Hrs(IST)
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World


US proposes rules to rein in Chinese influence

Washington, Dec 1 (UNI) The United States proposed rules on Friday to promote the domestic electric vehicle supply chain and rein in the influence of China and other non-allied countries in the burgeoning industry, according to a Treasury release.
"Today’s Notice of Proposed Rulemaking (NRPM) provides clarity and certainty around the IRA’s foreign entity of concern (FEOC) requirements. To strengthen the security of America’s supply chains, beginning in 2024, an eligible clean vehicle may not contain any battery components that are manufactured or assembled by a FEOC, and, beginning in 2025, an eligible clean vehicle may not contain any critical minerals that were extracted, processed, or recycled by a FEOC," the release stated.
According to a federal registry notice, the "covered nations" under the FEOC include China, Russia, North Korea, and Iran.
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