Biden's trick is ruthless enough, South Korea can't sit still

In order to express the concerns of South Korea, on the 29th, the South Korean government sent a joint delegation to the United States to meet with the U.S. Trade Representative (USTR), the Ministry of Finance, the Ministry of Commerce and other departments and the relevant people of Congress. Coordinate consultation with the United States.

The delegation is composed of officials of the Ministry of Commerce Resources of the South Korean Industry, the Ministry of Planning Finance, and the bilateral economic and foreign bureau of the Ministry of Foreign Affairs. They will also discuss the strategy of responding to response.

It is reported that the delegation was "a front station" for the next advanced consultation. Next week, the Ministry of Industry and Commercial Resources, the Ministry of Commerce and Commerce, will go to the United States to attend the Indo -Pacific Economic Framework (IPEF) Minister of Economic Framework (IPEF), and take the opportunity to hold senior consultations with the United States to discuss the impact of the "Inflation Act" on the Korean Enterprise. Essence

On August 16, local time, Biden signed the "Inflation Act". Source: Visual China

Chang'an Street Knowledge (WeChat ID: CapitalNews) noticed that on the same day of the delegation, Li Changyang, Minister of Commerce Resources of South Korea, bluntly stated that it will filed a lawsuit with the WTO and may cooperate with Japan and the European Union.

Li Changyang said that the United States' "Inflation Act" (IRA) is likely to violate the Korean -American Free Trade Agreement (FTA) and the World Trade Organization (WTO). According to the Korean and American FTA Agreement, one of the seconds must be selected in the Korean -US FTA or WTO solution mechanism when the dispute occurs.

In fact, after the signing of the bill, South Korea's senior management has made a statement. South Korean President Yin Xiyue said on the 26th that South Korean companies were "deeply worried" about the U.S.'s "Angle Act".

On the same day, South Korean Foreign Minister Park Zhen admitted that when meeting U.S. officials, the United States excluded South Korean electric vehicles to "discriminate discrimination" in addition to tax credits. "".

Why did the bill signed by Biden causing such a great concern in South Korea?

The "Inflation Act" stipulates that the U.S. government will provide consumers who purchase second -hand electric vehicles with a tax credit of $ 4,000, and consumers who purchase new electric vehicles can get $ 7,500 tax credits.

But there is one premise to enjoy the above two subsidies -these electric vehicles must be assembled in North America. And from January next year, it is necessary to use a certain percentage of power batteries and key minerals that produce and minimize in the United States and other places.

This premise almost rejected the vast majority of Korean electric vehicles, which can be described as a head.

Take Hyundai Motor Group in Korea, for example, in the first half of this year, Hyundai Group occupied the second largest market share in the US electric vehicle market, second only to Tesla.

However, after the "Inflation Act" is officially passed, the electric vehicle of Hyundai Group will not be eligible to enjoy the subsidy policy, thereby losing its competitive advantage.

Some analysts in the automotive industry believe that the "Angle Act" Act will bring a devastating blow to the sales of modern automobile groups in the United States, and the annual reduction of sales may reach 100,000.

Chang'an Street Knowledge (WeChat ID: CapitalNews) noticed that when Bayeng visited South Korea three months ago, he told Zheng Yixuan, chairman of modern car, "I won't let you down" as a promise to Zheng Yixuan Investing in US $ 10.5 billion in US $ 10.5 billion.

In May of this year, Seoul, South Korea, talked with Zheng Yixuan. Source: Visual China

Now that Biden "turned his face and did not recognize his account", Zheng Yixuan had emerged in the United States on the 23rd and asked US officials to improve the subsidy policy in the bill.

On the other hand, in South Korea and the United States, they have different benefits and still enjoy great subsidies. In the first half of this year, the South Korean government provided a total of 82.3 billion won subsidies to imported electric vehicles, of which more than half of them were obtained by American car companies.

Thanks to the subsidies of the Korean government, the sales of American electric vehicle manufacturers such as Tesla performed strongly in South Korea. Some people in the industry predict that if the policy continues, Tesla will receive a subsidy of 100 billion won at the end of the year.

What is even more annoyed in South Korea is that the United States is also pressured South Korea to "enter the group" and ask South Korea to decide whether to join the "chip Quartet Alliance" that curbs China as soon as possible. At present, 60%of Korean chips are exported to the Chinese market. Once they join the alliance, it will inevitably affect South Korea's overall foreign trade.

South Korea's "Central Daily" commentator bluntly stated that Biden signed the "Inflation Act" once again aroused an ordinary but calm truth in international relations -in the face of national interests, the value is just a name.

Facts have proved that whether it is to enter South Korea or excludes Korean companies outside the subsidy, it is "the United States first."

In the final analysis, "the United States priority" is ultimately "voting priority."

Although the "British Act" Act, the US Congress Budget Office has long concluded that the bill will only have a "trivial" inflation in the United States today and next.

Although the impact on inflation is small, it is of great significance to the Democratic Party. The mid -term elections are approaching, and some analysts believe that the passage of the bill is the "great victory" by Bayeng and its Democratic Party.

In recent years, allies have not paid for their selfishness and overbearing in order to meet the strategic intentions of the United States to curb China.

In 2019, when the British government determined that Huawei did not constitute a national security threat, the United States sent the Asian Affairs Director of the Presidential National Security Council to the United Kingdom to grow up to the British representative for 5 hours to force the United Kingdom to participate in the siege of Huawei.It takes at least 2 billion pounds to be postponed for 3 years.In 2021, the United States and Britain and Australia announced the establishment of the so -called three -sided security partnership.To this end, Australia did not hesitate to suspend a conventional submarine contract worth $ 50 billion (about RMB 234.4 billion) at a contract with France.The French government has accused the United States of "behind the knife behind."

Since the beginning of this year, from the "Indo -Pacific Economic Framework" and "Four Side Security Dialogue" to the "Quartet Chip Alliance", the United States has tried to establish a small circle of China in the Asia -Pacific region. Except for damage to its allies and mutually beneficial cooperation with China, it has not brought the ally to the allies.Any real benefit.

After being deeply appreciated what is "the United States is prioritized, the ally leaning", how long will the American allies be able to endure it?

(Original title: Biden's trick is ruthless enough, South Korea can’t sit still)

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