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U.S. Moves to Appease Allies on EV Subsidies
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WASHINGTON—The Biden administration on Thursday signaled its willingness to address some of the concerns expressed by European and Asian allies over a new U.S. tax credit program for electric vehicles.
The program requires all vehicles to be assembled in North America to qualify for consumer tax credits, but the Treasury Department released documents paving the way for some vehicles assembled overseas to qualify for incentives through a separate commercial EV scheme if they are purchased for lease by businesses, not for resale.
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