Treasury eyes Japan as ‘FTA’ partner in proposed rules on EV tax credits

The Treasury Department on Friday issued a much-anticipated proposed rule on sourcing requirements for electric vehicle tax credits, citing a freshly negotiated critical minerals pact with Japan as an example of an arrangement it expects to consider a “free trade agreement” for the purposes of those incentives. The department last December indicated it intended to take a broad view of the meaning of FTA as it implemented the credits, which include critical minerals sourcing requirements that favor U.S. FTA partners...