Ten questions about "overcapacity" issue (7)

7. Who is practicing protectionism under the guise of industrial subsidies?

The Inflation Reduction Act, passed into U.S. law in 2022, provides tax incentives and subsidies for the clean energy industry, including American-made electric vehicles, while excluding countries like China.

In its Chips and Science Act, the U.S. allocates $280 billion to boost domestic chip production through significant subsidies and tax benefits to domestic chip manufacturers. However, the Act contains provisions that restrict relevant companies' normal economic, trade and investment activities in China, which is discriminatory.

Source: Xinhua News Agency