Biden’s Climate Policies Are Outraging One of His Biggest Allies
(RightWing.org) – President Joe Biden is determined to force through his green agenda, and he’s as happy, as always, to throw money at the problem. His latest idea is bribing Americans to buy electric cars — but only if they’re made in the US. This reneges on a deal made with one of our most important allies, and it hasn’t turned out to be a diplomatic triumph.
President Joe Biden's recent incentive for Americans to buy electric vehicles hurts South Korea's auto industry, upsetting one of America's top allies, the Wall Street Journal reported.
In May, South Korean auto maker Hyundai Motor Group, parent company of Hyundai Motor Co…. pic.twitter.com/GfkkCoQNJ1
— theconservativeworld.com (@TheConsworld) September 29, 2022
In May, Biden visited the South Korean capital of Seoul. One of the highlights of the trip was a meeting with Euisun Chung, the CEO of Hyundai Motor Group. Chung had just agreed to invest over $10 billion in the US to finance the joint development of electric vehicles — vehicles that would be eligible for a $7,500 tax credit to American buyers. Then, on August 16, Biden signed a bill that restricts the tax credit to cars built in the US.
After Biden spent four years criticizing former President Donald Trump’s America first industrial policies, this was hypocritical, to say the least. More importantly, it was also a slap in the face for South Korea, which had invested billions of dollars in good faith. Now, Hyundai’s electric cars will be at a huge disadvantage in the US market, and the country’s government isn’t happy.
A string of officials have visited Washington, DC, to make their case, but the best they’ve got is a pledge from Vice President Kamala Harris to “consult” in the future. The problem is South Korea now knows how much the Biden Administration’s pledges are worth.
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