UPDATE 1-US publishes interim tax credit rules meant to restrict China clean energy influence
The U.S. Treasury Department on Thursday unveiled interim rules for enforcing provisions in President Donald Trump's new tax law that restrict companies from claiming federal clean energy subsidies if they are overly reliant on Chinese-made goods. The guidance, which applies to lucrative tax credits for clean energy manufacturing and electricity generation, has been eagerly awaited by solar and wind project developers and factory owners since passage of Trump's One Big Beautiful Bill Act last July.
The U.S. Treasury Department on Thursday unveiled interim rules for enforcing provisions in President Donald Trump's new tax law that restrict companies from claiming federal clean energy subsidies if they are overly reliant on Chinese-made goods.
The guidance, which applies to lucrative tax credits for clean energy manufacturing and electricity generation, has been eagerly awaited by solar and wind project developers and factory owners since passage of Trump's One Big Beautiful Bill Act last July. The Treasury's Internal Revenue Service said the interim rules can be relied on until it proposes formal regulations. It is seeking public comments for 45 days for future guidance.
Advertisement
ALSO READ
-
CIA makes new push to recruit Chinese military officers as informants
-
European Commission: Chinese tariffs on EU dairy unwarranted, unjustified
-
Chinese tourists head to Russia, Thailand on extended Lunar New Year break
-
A year on from DeepSeek shock, get set for flurry of low-cost Chinese AI models
-
UPDATE 4-US pushes for Venezuela investment, energy secretary warns about legitimacy of Chinese deals
Google News