LatinNews Daily - 09 August 2022

In brief: Mexico celebrates US decision on EV tax credits

* Mexico’s ambassador to the US, Esteban Moctezuma, has thanked US Assistant Secretary of State for Western Hemisphere Affairs Brian Nichols for his support in ensuring tax credits for electric vehicles (EVs) are applied to vehicles made in the whole of North America, and not just the US. This comes after the US Senate approved the new Inflation Reduction Act of 2022, which includes tax incentives for purchases of EVs made in the US, Mexico and Canada. Originally, the tax credits were only to be applied to US vehicles, which Mexico and Canada stated would violate non-discrimination clauses in the US-Mexico-Canada Agreement (USMCA) on regional trade. Mexican business group the Consejo Coordinador Empresarial (CCE) also celebrated the news, stating the US had reasserted its “privileged partnership with Mexico and Canada”.

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