I think I did read about this when Macron was pushing back on this part of the IRA but it didn't quite register.
The deal with Japan and re-reading the bolded section below has solidified my appreciation for Biden & team.
Quote:
|
The United States and Japan on Tuesday announced a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to the new $7,500 U.S. EV tax credit.
|
Quote:
Half of the credit for purchasing consumers is reserved for North American-assembled vehicles and batteries, a source of considerable tension with the European Union, Japan and South Korea, who worry that their car and battery makers will be rendered uncompetitive.
The other half of the credit is contingent on at least 40% of the value of critical minerals in the battery having been extracted or processed in the United States or a country with a U.S. free trade agreement or recycled in North America.
|
And the search for & access to rare earth metals continues ...