U.S. will find a way to meet economic interests of S. Korea under inflation act: Sullivan

By Byun Duk-kun

WASHINGTON, Dec. 12 (Yonhap) -- The United States will find ways to meet its economic interests, as well as those of America's allies, in implementing the new Inflation Reduction Act that currently offers tax benefits only to electric vehicles assembled in North America, White House National Security Advisor Jake Sullivan said Monday.

Sullivan said such solutions will be presented in "coming days and weeks."

"We have had extensive consultations with Republic of Korea on the Inflation Reduction Act and, in particular, the relevant provisions related to electric vehicles," the top national security adviser said in a press briefing, referring to South Korea by its official name.

Seoul, along with many European car-producing countries, has repeatedly expressed concerns over the new U.S. law that, if implemented as is, will exclude U.S. buyers of any foreign-made electric vehicles from the tax benefit, in turn significantly eroding the competitiveness of foreign carmakers.

Sullivan noted conversations with South Korea have been "constructive," also noting discussions have been held at "multiple levels."

"And we feel confident that we can get to a place of understanding and where both of our countries' economic interests will be taken into account, and you will see that unfold in the in the coming days and weeks," he told the press briefing.

"This is a big complex piece of legislation. Not everything gets resolved in a day. a week or a month. But we believe that we will ultimately have a long term approach that vindicates the economic interests and needs of American workers and businesses and of our ally in the Republic of Korea," he added.

bdk@yna.co.kr
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