EV Fair Trade Act: Blocking Federal Funds for Child and Slave Labor.
This law aims to eliminate forced and child labor from the supply chains of electric vehicles (EVs) sold in the US. EV companies must certify that their production, from mineral extraction to final assembly, is ethical, or they will lose access to federal grants, loans, and tax deductions. This ensures that taxpayer money supports ethically sourced vehicles and provides consumers with transparency regarding certified companies.
Key points
EV companies must certify they do not use child or slave labor in their supply chain to remain eligible for Federal assistance.
Non-compliant companies lose all federal financial aid, including grants, contracts, loans, and specific tax credits/deductions.
The government will create a public database listing companies that have successfully submitted valid certifications.
Certifications are subject to annual random audits, and submitting a false certificate results in a 5-year penalty period.
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