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Korea Trade Minister to Visit US Amid New Energy Bill Fallout

South Korea’s trade minister will visit the US next month to lobby against President Biden’s new climate and energy tax laws that aim to increase domestic production of electric cars and reduce reliance on China for battery components and materials.

“The US seems to be seeking protection of local industries through the Inflation Reduction Act and the Chips Act,” Minister Lee Chang-yang said in a statement Thursday. The legislation contains “details that would put a burden on our companies, raising concerns in South Korea, Germany and Japan, which are also exporting electric cars to the US.”