Hayashi Japanese Foreign Minister Meets US USTR Representative to Discuss Electric Vehicle Subsidies

Thai (left) shaking hands with Katherine Tai, United States Trade Representative (USTR), and Hayashi, Japanese Foreign Minister
[Image source=Yonhap News]

Japanese Foreign Minister Yoshimasa Hayashi met with Katherine Tai, the United States Trade Representative (USTR), to exchange views on issues related to electric vehicle subsidies under the U.S. Inflation Reduction Act (IRA).

According to the Japanese Ministry of Foreign Affairs on the 19th, Foreign Minister Hayashi held a meeting with Representative Tai at the Ministry of Foreign Affairs in Tokyo for about 20 minutes.

In addition to discussions on electric vehicle subsidies, Foreign Minister Hayashi congratulated the signing of an agreement to strengthen the U.S.-Japan critical minerals supply chain and stated that it is important for both countries to reinforce the supply chain from an economic security perspective.

On the 17th (local time), the U.S. Department of the Treasury announced 16 electric vehicle models (22 including sub-models) eligible for subsidies of up to $7,500 (approximately 10 million KRW) under the detailed guidelines of the IRA. Brands from not only Korea but also Japan and Germany were all excluded.

Representative Tai expressed a desire to further develop bilateral and multilateral trade cooperation between the U.S. and Japan. Regarding progress in negotiations on the Indo-Pacific Economic Framework (IPEF), she also emphasized the importance of cooperation with Japan.

Foreign Minister Hayashi welcomed the U.S. involvement in the economic order of the Indo-Pacific region through IPEF and stated that Japan will actively contribute to IPEF discussions together with regional partner countries.

This content was produced with the assistance of AI translation services.