U.S. Treasury Secretary Janet Yellen expressed optimism about the future of electric vehicles (EVs) in the United States, highlighting efforts to support the domestic EV industry amidst Chinese competition. Yellen emphasized President Biden's commitment to ensuring the success of the U.S. EV industry and mentioned tax credit rules aimed at reducing Chinese battery content in U.S.-produced EVs.
YELLEN: TAX CREDIT RULES ON FOREIGN ENTITIES OF CONCERN WILL MAKE IT INCREASINGLY DIFFICULT FOR U.S.-PRODUCED EVS TO CONTAIN CHINESE BATTERY CONTENT
YELLEN: U.S. TAKING STEPS TO ENSURE THAT DOMESTIC ELECTRIC VEHICLE INDUSTRY IS SUCCESSFUL IN THE FACE OF CHINESE COMPETITION
π΄ US TREASURY SECRETARY YELLEN: THE US IS TAKING STEPS TO ENSURE THAT DOMESTIC ELECTRIC VEHICLE INDUSTRY IS SUCCESSFUL IN THE FACE OF CHINESE COMPETITION.
YELLEN, ASKED IF MORE U.S. TARIFFS WERE NEEDED ON CHINESE EVS, SAYS BIDEN IS COMMITTED TO ENSURING THAT U.S. EV INDUSTRY IS SUCCESSFUL
πΊπΈ Treasury Secretary Janet Yellen just said: The future for EVs is very bright in the US πΊπΈ
β YELLEN: FUTURE FOR EVS IS VERY BRIGHT IN THE U.S.