{"id":1990224,"date":"2023-08-03T19:39:02","date_gmt":"2023-08-03T23:39:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-should-extend-ev-tax-benefits-to-vietnam-says-business-lobby\/"},"modified":"2023-08-03T19:40:37","modified_gmt":"2023-08-03T23:40:37","slug":"us-should-extend-ev-tax-benefits-to-vietnam-says-business-lobby","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-should-extend-ev-tax-benefits-to-vietnam-says-business-lobby\/","title":{"rendered":"Business lobby urges US to expand EV tax benefits to Vietnam."},"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\">22<\/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%2Fus-should-extend-ev-tax-benefits-to-vietnam-says-business-lobby%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=1990224&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--><div class=\"entry-content\">\n<h2>US Urged \u2064to Extend Electric Vehicle \u2062Tax Credit Benefits to Vietnam<\/h2>\n<p>By Simon Lewis\u200d and David Brunnstrom<\/p>\n<p>WASHINGTON (Reuters)\u2062 \u2013 The\u2062 United States \u2062should <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-should-extend-ev-tax-benefits-to-vietnam-says-business-lobby\/\" title=\"Business lobby urges US to expand EV tax benefits to Vietnam.\">extend electric vehicle tax credit benefits<\/a> to Vietnam if it wants to \u2063encourage a \u200blandmark investment\u200d from the country in U.S.-based manufacturing, \u200cthe head of the main U.S. business \u2064lobby for Southeast Asia \u2064said.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Rules included in the U.S. Inflation Reduction Act (IRA)\u2064 aimed at reducing U.S. \u2064dependence on Chinese EV battery supply\u200d chains currently only\u200b benefit countries that\u200c have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/secretary-of-state-outlines-bidens-foreign-strategies-says-us-will-lead-with-diplomacy\/\" title=\"Secretary of State Outlines Biden\u2019s Foreign Strategies, Says US Will \u2018Lead With Diplomacy\u2019\">free trade agreements<\/a> with Washington \u2013 a \u2064list that excludes Vietnam.<\/p>\n<p>Vietnamese automaker VinFast last week began construction\u2063 on a\u2063 $4 \u200cbillion plant to produce EVs in North Carolina for \u2063the U.S. market, but could\u200d struggle to compete without \u2064the tax\u2063 break, \u2064said Ted Osius, a former U.S. ambassador to Vietnam who heads the U.S.-ASEAN\u2064 Business Council, a lobby \u2063group. \u200b <\/p>\n<p>VinFast responded to President Joe Biden\u2019s call for electric vehicles to be manufactured in the United States, Osius told Reuters in an interview on Thursday, \u201cNow they will\u2064 have some asks. They \u2064will want to be part of the EV supply chain and they\u2062 won\u2019t want \u200bto be discriminated against in favor of other EV producers.\u201d<\/p>\n<p>There was \u201cno clear \u200bpath\u201d \u200dfor Vietnam to get the tax benefits at present, but the fact VinFast was moving ahead with\u2063 construction \u200bshows \u201ca certain amount of confidence that this is going\u2063 to be worked\u2062 out \u2013 and I \u200bshare\u200d that confidence,\u201d Osius said.<\/p>\n<p>Whether Biden\u2019s administration can\u2062 work out a solution for the Vietnamese automaker could be \u200ba test of how far the benefits \u2063of the IRA can be extended.<\/p>\n<p>The IRA awards \u2064a $7,500 \u2064tax credit \u2063on EVs bought in the United States provided that\u200d a percentage of critical minerals that go\u200c into making the batteries are sourced from the United States or a free trade partner.<\/p>\n<p>The United States\u00a0signed a deal \u2063in \u2062March with Japan\u00a0on critical minerals that\u200d ensures Japanese cars will benefit \u2062from \u2064the tax credit. Now, both \u2064the EU \u200band\u00a0Britain\u00a0are looking \u2064for the\u2063 same. <\/p>\n<p>Biden said last week he could meet Vietnam\u2019s leader at\u200c the \u200dG20 summit in New Delhi in September, where the two are expected \u2063to agree steps to deepen a relationship that has\u200d blossomed in recent years amid rising U.S. tension with China.<\/p>\n<p>Osius \u2064said Washington should extend the tax\u200c benefit to signatories to the Indo-Pacific Economic Framework (IPEF), a trade imitative\u2062 that involves 14 \u2062countries, including Vietnam and nearby Indonesia, which has vast reserves of the \u2064minerals found in batteries.<\/p>\n<p>The Biden administration launched IPEF as part of efforts to step up economic engagement with Asia after former President \u200cDonald Trump \u2062pulled out of a pan-Pacific trade pact, but it lacks the market-access provisions ASEAN states want.<\/p>\n<\/p>\n<p>  (Reporting by David Brunnstrom\u200d and Simon\u200b Lewis; \u200dadditional reporting by David Shepardson; Editing \u2063by Don Durfee and Diane Craft)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/us-should-extend-ev\/attachment\/file-photo-press-day-at-the-los-angeles-auto-show\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Latest News:<\/h3>\n<p>45th President Donald Trump has pleads not \u200cguilty to\u200b all four felony charges.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Insightful Testimony:<\/h3>\n<p>Devon Archer says he and Hunter Biden flew \u2063too close to the\u2062 sun as business partners. With \u200dthe transcript from his closed-door testimony \u2062being\u200d released today, there is \u200da lot to unpack.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Transcript Release:<\/h3>\n<p>Just days after giving his closed-door\u2063 testimony the House\u200c Oversight Committee releases Biden\u2019s \u2064ex-business partner\u2019s transcript.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Key Judge Assigned:<\/h3>\n<p>Obama-appointed\u00a0Judge \u2063Tanya Chutkan has been assigned \u200dto 45th President Donald Trump\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/2-bodies-found-at-us-mexico-border-in-rio-grande\/\" title=\"2 bodies discovered at US-Mexico border in Rio Grande.\">2020 election challenge case<\/a>. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Apple&#8217;s Savings \u200bAccount Milestone:<\/h3>\n<p>(Reuters) \u2013\u2062 Apple\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-presidential-candidate-vivek-ramaswamy-sues-doj-over-trump-indictment\/\" title=\"Vivek Ramaswamy, GOP candidate, sues DOJ for Trump indictment.\">high-yield savings account offered<\/a> \u2063by its\u2062 partner Goldman Sachs has\u200d reached over \u2063$10 billion in customer deposits, the \u200btechnology\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Strong Revenue Forecast:<\/h3>\n<p>(Reuters) \u2013 Cognizant Technology Solutions forecast\u200b third-quarter revenue above estimates on Wednesday as more \u200dbusinesses turn to the IT \u200bservices\u2062 provider to\u2026\u2064 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Data Center Demand \u2064Slows:<\/h3>\n<p>(Reuters) \u2013 Equinix forecast third-quarter revenue below market estimates on Wednesday, a sign that\u2063 demand \u2063for data centers was slowing as\u2062 businesses\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Global Expansion:<\/h3>\n<p>By \u200dNette Noestlinger, Matthias \u200bBaehr and Elizabeth Howcroft \u2062LONDON (Reuters) \u2013 Worldcoin\u200b will expand its operations \u2062to sign up more users globally\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US should offer electric vehicle tax credits to Vietnam to attract their investment in US manufacturing, according to the head of the main US business lobby for Southeast Asia. This move could encourage a significant investment from Vietnam.<\/p>\n","protected":false},"author":66,"featured_media":1990225,"comment_status":"open","ping_status":"closed","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":[542],"tags":[],"class_list":["post-1990224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"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\/1990224","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\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1990224"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1990224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1990225"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1990224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1990224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1990224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}