Donald Trump's threat to Biden's industrial policy hangs over Asian firms

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Companies, by contrast, expect greater trade barriers and geopolitical tensions, with about two-thirds of manufacturers surveyed by the Korea Chamber of Commerce and Industry saying they expect trade protectionism to intensify next year.

LG Energy has said it sees risks to its plans in the US from weaker-than-expected sales of electric vehicles and the possibility that Trump will scrap the current administration’s EV policies.

The Biden administration’s Inflation Reduction Act offers tax credits and other incentives for the production of electric vehicles, renewable energy, sustainable aviation fuel and hydrogen.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaGeorgiaJapanSouth KoreaTaiwanUnited States

Topics: Tariff US elections Joe Biden Asian Firms Donald Trump US presidential elections

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 09:02:55 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 914 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23344885

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Main Topics: BusinessFinance

Official Website: business-standard.com

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Year Established: 1975

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Coverage Areas: India

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