Europe;
Share
Copied
EU chief Ursula von der Leyen said the EU had to work with the U.S. to address "some of the most concerning aspects of the law." /Paul Faith/AFP
European Union chief Ursula von der Leyen has said the bloc will have to act to combat "distortions" created by Washington's $430 billion plan to heavily subsidize climate-friendly technologies in the U.S.
The EU must "take action to rebalance the playing field where the IRA (Inflation Reduction Act) or other measures create distortions," Von der Leyen said in a speech at the College of Europe in the Belgian city of Bruges on Sunday.
EU countries have hit out on Washington's landmark Inflation Reduction Act, claiming that its inclusion of state subsidies is "anti-competitive" and a threat to European jobs, particularly in the energy and auto sectors.
The act, designed to push forward the U.S. transition to a low-carbon economy, includes around $370 billion in subsidies for green energy. It also will see tax cuts for U.S.-made electric cars and batteries.
READ MORE
Spanish police raid Europe's drug 'super cartel'
The family with six generations of UK-China trading
Von der Leyen said the EU had to work with the U.S. to address what she called "some of the most concerning aspects of the law."
She added that Brussels must also "adjust" its own laws to allow for public investment in the environmental transition and "re-assess the need for further European funding of the transition."
French President Emmanuel Macron used the opportunity of his state visit to the U.S. to air his grievances over U.S.-EU trade.
The White House says the IRA is a groundbreaking effort to reignite U.S. manufacturing and promote renewable technologies.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466