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Biden administration sets EV tax credit rules meant to cut out China

By Breanne Deppisch
Published December 1, 2023 1:45pm ET
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Biden administration sets EV tax credit rules meant to cut out China
The U.S. Treasury Department building at dusk. Yields on Treasury bills maturing in early June are soaring amid the historic debt ceiling fight between the Biden White House and Republicans, led by Kevin McCarthy. | (Patrick Semansky/AP)

The Biden administration announced Friday that it will bar any electric vehicles from qualifying for subsidies if their batteries are made in China or with Chinese materials, a provision that extends to any companies worldwide that are under Beijing’s sway.

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Biden Administration China Electric Vehicles Joe Manchin Treasury Department