South Korea Angry Over New U.S. Trade Policy
2022-09-15
LRC
TXT
大字
小字
滚动
全页
1South Korea says a new American tax law discriminates against South Korean electric vehicle (EV) makers.
2The issue may be a threat to relations between the long-time allies.
3The United States Inflation Reduction Act passed last month.
4It offers tax credits worth as much as $7,500 to buyers of electric vehicles assembled in North America.
5Experts say the measure was designed to assist EV manufacturing in North America and block China from supply chains.
6The bill also cancelled tax credits for some electric vehicles made overseas.
7Among the most affected are the South Korean carmakers Hyundai and Kia.
8Together, they are in second place for most sales in the U.S. electric vehicle market.
9Only EV maker Tesla sells more.
10South Korean business officials called the new law a betrayal of World Trade Organization principles.
11They also said that the U.S.-South Korea free trade agreement bans such discrimination against each other's imported products.
12In the press, both conservative and liberal opinion writers criticized the policy.
13Some questioned if the South Korean government should end its part in several U.S.-led economic programs in the country.
14Some of those projects are considered critical to U.S. efforts in Asia.
15South Korean Trade Minister Ahn Duk-geun spoke of the trade dispute at a press conference Tuesday.
16It should be treated separately from those programs, he said.
17But, the issue could, he said, "shake the trust in the trade relationship itself."
18Keeping good relations with both China and the U.S. is difficult for South Korea.
19It is home to about 28,000 American troops. It also depends on trade with China more than any other country.
20South Korea's conservative president, Yoon Suk Yeol took office in May.
21He has moved to expand his country's economic and security relationship with the United States.
22The United States has agreed to talks with South Korea to reduce the effect of the recent U.S. legislation.
23But there has still been much criticism in South Korea directed at both Yoon and American President Joe Biden.
24So far, the reaction has mainly been limited to published opinion pieces and statements from business and government officials.
25Jeongmeen Suh is an economics professor at Seoul's Soongsil University.
26He says the U.S. policy only affects a limited number of South Korean companies and might not be felt by the average citizen.
27So, he thinks it unlikely that South Koreans will hold any major protests over the trade law.
28But if not settled quickly, the disagreement could result in diplomatic problems, such as Seoul taking the issue to the World Trade Organization.
29Some voices have called for South Korea to take a stronger position in line with its growing economic and diplomatic influence.
30"If Korea remains passive, it could once again become the victim of the great powers," says a recent opinion writer in Hankyoreh.
31"Korea needs to get over its 'small country' mentality and adopt an active posture."
32I'm Jill Robbins.
1South Korea says a new American tax law discriminates against South Korean electric vehicle (EV) makers. The issue may be a threat to relations between the long-time allies. 2The United States Inflation Reduction Act passed last month. It offers tax credits worth as much as $7,500 to buyers of electric vehicles assembled in North America. 3Experts say the measure was designed to assist EV manufacturing in North America and block China from supply chains. 4The bill also cancelled tax credits for some electric vehicles made overseas. Among the most affected are the South Korean carmakers Hyundai and Kia. Together, they are in second place for most sales in the U.S. electric vehicle market. Only EV maker Tesla sells more. 5South Korean business officials called the new law a betrayal of World Trade Organization principles. They also said that the U.S.-South Korea free trade agreement bans such discrimination against each other's imported products. 6In the press, both conservative and liberal opinion writers criticized the policy. Some questioned if the South Korean government should end its part in several U.S.-led economic programs in the country. Some of those projects are considered critical to U.S. efforts in Asia. 7South Korean Trade Minister Ahn Duk-geun spoke of the trade dispute at a press conference Tuesday. It should be treated separately from those programs, he said. But, the issue could, he said, "shake the trust in the trade relationship itself." 8South Korea's problem 9Keeping good relations with both China and the U.S. is difficult for South Korea. It is home to about 28,000 American troops. It also depends on trade with China more than any other country. 10South Korea's conservative president, Yoon Suk Yeol took office in May. He has moved to expand his country's economic and security relationship with the United States. 11The United States has agreed to talks with South Korea to reduce the effect of the recent U.S. legislation. But there has still been much criticism in South Korea directed at both Yoon and American President Joe Biden. 12So far, the reaction has mainly been limited to published opinion pieces and statements from business and government officials. 13Jeongmeen Suh is an economics professor at Seoul's Soongsil University. He says the U.S. policy only affects a limited number of South Korean companies and might not be felt by the average citizen. 14So, he thinks it unlikely that South Koreans will hold any major protests over the trade law. 15But if not settled quickly, the disagreement could result in diplomatic problems, such as Seoul taking the issue to the World Trade Organization. Some voices have called for South Korea to take a stronger position in line with its growing economic and diplomatic influence. 16"If Korea remains passive, it could once again become the victim of the great powers," says a recent opinion writer in Hankyoreh. "Korea needs to get over its 'small country' mentality and adopt an active posture." 17I'm Jill Robbins. 18William Gallo reported this story for VOA News. Jill Robbins adapted it for Learning English. 19____________________________________________________________________ 20Words in This Story 21assemble - v. to put something together 22posture - n. an official stand or position, as that taken by a nation on a major issue 23What do you think of the new tax law and its effect on South Korean businesses? 24We want to hear from you. We have a new comment system. Here is how it works: 25Each time you return to comment on the Learning English site, you can use your account and see your comments and replies to them.