Biden sends letter to Yoon expressing willingness for talks on IRA

US President Joe Biden has sent a letter to South Korean President Yoon Suk-yeol expressing his willingness to continue frank and open-minded talks on the US Inflation Reduction Act, a presidential official said Wednesday.

Biden also said in the letter the previous day that he is well aware of Yoon's concerns about the IRA, the official told reporters.

The IRA gives tax credits only to electric vehicles assembled in North America, raising concerns it will act as a significant trade barrier for Korean carmakers, Yonhap news agency reported.