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The  Inflation Reduction Act extended the provision of  tax incentives for electric vehicles, but, added stipulations that these EVs be produced in North America.  Manufacturers outside of North America, including Korean auto manufacturers, had a problem--would they miss out on these subidies that their customers had previously been getting? Trade economist Chad Bown tells the story about how the US Treasury, by regulation, appears to have solved Korea's problem by regulation.

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