IRA implementing rules and guidelines

IRA implementing rules newly published by the US Treasury will likely reduce EV sales in the short term while aiming to spur long-term industry growth, reports Politico. The US and Japan have negotiated a new agreement to allow Japanese critical minerals to qualify under US subsidy rules, per the Wall Street Journal. Building critical mineral supply chains without Chinese production will be a challenge, says Bloomberg. Indonesian business argues that it should qualify for US subsidies, writes the Financial Times.

Mentioned publications

Treasury Releases Proposed Guidance on New Clean Vehicle Credit to Lower Costs for Consumers, Build U.S. Industrial Base, Strengthen Supply Chains – US Department of the Treasury, March 31, 2023
The US Treasury issues long-awaited implementing guidance on electric vehicle subsidies.
IRS rules for electric cars unveiled after months of attacks – Politico, March 31, 2023
Implementing rules will likely reduce EV sales in the short term, but aim to spur long-term industry growth.
Agreement between the Government of the United States of America and the Government of Japan on Strengthening Critical Minerals Supply Chains – Office of the US Trade Representative, March 28, 2023
A new US-Japan agreement allows Japanese materials to qualify for tax credits.
U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars – The Wall Street Journal, March 28, 2023
Putting the new US-Japan accord on minerals in context.
Biden Tees Up a Supply-Chain Rethink With Challenge to China’s EVs – Bloomberg, March 28, 2023
More details are emerging about the challenge of building a critical mineral supply chain without China.
Indonesia business presses US over green subsidies for EV minerals – Financial Times, March 30, 2023
Indonesian business makes the case for inclusion in US subsidies for EV battery materials.