{"id":1854438,"date":"2023-02-21T05:04:43","date_gmt":"2023-02-21T10:04:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1854438"},"modified":"2023-02-21T05:07:28","modified_gmt":"2023-02-21T10:07:28","slug":"bidens-climate-bill-was-meant-to-combat-china-now-a-chinese-firm-is-poised-to-cash-in","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-climate-bill-was-meant-to-combat-china-now-a-chinese-firm-is-poised-to-cash-in\/","title":{"rendered":"Biden&#8217;s Climate Bill Was Meant To Combat China. Now a Chinese Firm Is Poised To Cash In."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-climate-bill-was-meant-to-combat-china-now-a-chinese-firm-is-poised-to-cash-in%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1854438&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<\/p>\n<p>Ford uses Chinese labor and parts in its new battery plant. Ford still hopes to get Biden tax credits. Chinese President Xi Jinping drives an open-top car \/Getty Images    <\/p>\n<p>President Joe Biden passed nearly $400 billion worth of legislation &#8220;green energy&#8221; He said that the huge federal spending would make America more competitive with China and provided subsidies last summer. Ford, the auto giant, announced this week that it will use Biden&#8217;s tax credit to produce electric vehicles with Chinese workers and technology.<\/p>\n<p>Ford <a href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2023\/02\/13\/ford-taps-michigan-for-new-lfp-battery-plant--new-battery-chemis.html\" target=\"_blank\" rel=\"noopener\">Announced last week<\/a> It is spending $3.5 billion to construct a Michigan plant that will make EV batteries with Contemporary Amperex Technology Co. Limited, a Chinese battery company. Ford says that the Chinese firm not only provides technology, but also sends equipment and workers for the construction and operation of the factory.<\/p>\n<p><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/07\/28\/remarks-by-president-biden-on-the-inflation-reduction-act-of-2022\/\" target=\"_blank\" rel=\"noopener\">Biden promised<\/a>\u00a0His huge climate spending package, the Inflation Reduction Act, would grant the United States the ability to &#8220;to compete with China for the future.&#8221; Democrats pushed this law through Congress along party lines. The provisions bar companies from qualifying to tax credits if any EV components were made by a &#8220;foreign entity of concern,&#8221; This provision is intended to quell concerns that China might benefit.<\/p>\n<p>Ford, however <a href=\"https:\/\/www.freep.com\/story\/money\/cars\/ford\/2023\/02\/13\/ford-explains-why-battery-plant-china-partner-catl\/69898600007\" target=\"_blank\" rel=\"noopener\">Expressed confidence<\/a> Monday saw the announcement that its EV battery factory, located 100 miles west of Detroit&#8217;s city limits, would be eligible for federal tax cuts under the Inflation Reduction Act. Ford&#8217;s Chinese partner is not directly involved in the agreement, which means that the company owns 100% of the factory.<\/p>\n<p>Biden&#8217;s Inflation Reduction Act could result in taxpayer money being sent to America&#8217;s most powerful global rival. The U.S. auto giant&#8217;s reliance on the foreign firm reflects China&#8217;s iron grip on the green energy supply chain\u2014which <a href=\"https:\/\/freebeacon.com\/biden-administration\/bidens-doe-funnels-50-million-to-green-energy-company-that-sources-materials-from-china\/\" target=\"_blank\" rel=\"noopener\">has plagued<\/a> The White House <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/12\/08\/fact-sheet-president-biden-signs-executive-order-catalyzing-americas-clean-energy-economy-through-federal-sustainability\/\" target=\"_blank\" rel=\"noopener\">All efforts<\/a> &#8220;catalyzing America&#8217;s clean energy economy&#8221; With federal subsidies<\/p>\n<p>Ford <a href=\"https:\/\/www.nytimes.com\/2023\/02\/13\/business\/energy-environment\/ford-catl-electric-vehicle-battery.html\" target=\"_blank\" rel=\"noopener\"><\/a> China&#8217;s partnership is vital &#8220;build more EVs faster&#8221; That battery technology and materials are &#8220;implementable&#8221;<a href=\"https:\/\/www.cnbc.com\/2023\/02\/13\/ford-ev-battery-plant-china-catl.html\" target=\"_blank\" rel=\"noopener\">always imported.<\/a>&#8220;<\/p>\n<p>Ford announced the Michigan factory after Glenn Youngkin, Virginia governor (R.), in January\u00a0<a href=\"https:\/\/www.washingtonpost.com\/dc-md-va\/2023\/01\/13\/youngkin-virginia-ford-battery-china\/\" target=\"_blank\" rel=\"noopener\">Withdrew his state<\/a> From negotiations to host it. The Republican indicated that he would not allow taxpayer funds to be used. &#8220;recruit Ford as a front for China.&#8221;<\/p>\n<p>Ford is behind the scenes working to build<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When President Joe Biden pushed through nearly $400 billion in &#8220;green energy&#8221; subsidies last summer, he said the massive federal spending would help America compete with China. But auto giant Ford announced plans this week to use Biden&#8217;s tax credits to make electric vehicle batteries with Chinese workers and technology.<br \/>\nThe post Biden&#8217;s Climate Bill Was Meant To Combat China. Now a Chinese Firm Is Poised To Cash In. appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":176,"featured_media":1854441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[9650,3706,4119,4501,4117,4321,5246,6964,7588,8748],"class_list":["post-1854438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-combat","tag-bidens","tag-cash","tag-china","tag-chinese","tag-climate","tag-firm","tag-in","tag-meant","tag-poised"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1854438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1854438"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1854438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1854441"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1854438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1854438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1854438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}