Economic news

EU, US must address concerns over U.S. inflation act – German fin min

2022.11.07 11:47



© Reuters. FILE PHOTO: German Finance Minister Christian Lindner holds a news conference on new estimates for tax revenue in Bonn, Germany October 27, 2022. REUTERS/Benjamin Westhoff/File Photo

BERLIN (Reuters) – Germany wants dialogue with Washington rather than tit-for-tat measures to ease trade tensions triggered by the U.S Inflation Reduction Act, which could harm European businesses and industry, Germany’s finance minister said on Monday.

Christian Lindner said a task force set up between the United States and the European Union should address the issue urgently.

“The correct path now is to seek dialogue with the U.S. administration in order to exchange concerns and find common ways in which our economic interests can be combined,” Lindner said ahead of talks with his Eurogroup counterparts in Brussels.

“I have not been assured that the American side has completely grasped how great our concerns about the consequences are,” he told reporters, while expressing confidence that solutions could be found.

“In everyone’s interest, we will not enter a tit-for-tat but rather strengthen the sources of wealth and growth together,” he added.

U.S. President Joe Biden signed the $430 billion anti-inflation bill into law in August, which includes state aid for certain industries such as the car sector.

The EU has said the new legislation, which makes tax breaks conditional on U.S-manufactured content, puts at a disadvantage European car companies and those producing a wide range of goods from the “green economy” sector, including batteries, hydrogen and renewable energy equipment.

Earlier on Monday, French Finance Minister Bruno Le Maire said the law was a major threat to European companies and that the EU must stand firm against it.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 69,303.57 0.23%
ethereum
Ethereum (ETH) $ 2,483.88 0.61%
tether
Tether (USDT) $ 0.99968 0.20%
bnb
BNB (BNB) $ 564.84 0.83%
solana
Solana (SOL) $ 163.32 1.32%
usd-coin
USDC (USDC) $ 1.00 0.23%
xrp
XRP (XRP) $ 0.509999 1.17%
staked-ether
Lido Staked Ether (STETH) $ 2,482.76 0.71%
dogecoin
Dogecoin (DOGE) $ 0.156808 2.10%
tron
TRON (TRX) $ 0.166229 0.26%
cardano
Cardano (ADA) $ 0.352503 0.17%
the-open-network
Toncoin (TON) $ 4.88 0.11%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,940.09 1.87%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 1.03%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,212.54 0.60%
avalanche-2
Avalanche (AVAX) $ 24.18 2.81%
weth
WETH (WETH) $ 2,485.66 0.71%
chainlink
Chainlink (LINK) $ 11.15 1.40%
bitcoin-cash
Bitcoin Cash (BCH) $ 343.59 0.94%
usds
USDS (USDS) $ 1.00 0.10%
leo-token
LEO Token (LEO) $ 6.08 0.01%
polkadot
Polkadot (DOT) $ 3.85 1.05%
sui
Sui (SUI) $ 1.91 3.56%
litecoin
Litecoin (LTC) $ 69.33 0.61%
near
NEAR Protocol (NEAR) $ 3.87 2.43%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,613.62 0.58%
aptos
Aptos (APT) $ 8.62 1.89%
uniswap
Uniswap (UNI) $ 7.32 6.07%
pepe
Pepe (PEPE) $ 0.000009 3.29%
internet-computer
Internet Computer (ICP) $ 7.64 2.39%
dai
Dai (DAI) $ 0.999758 0.10%
bittensor
Bittensor (TAO) $ 439.70 4.45%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.17 5.62%
monero
Monero (XMR) $ 154.94 0.81%
kaspa
Kaspa (KAS) $ 0.112368 4.15%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
stellar
Stellar (XLM) $ 0.091858 0.66%
whitebit
WhiteBIT Coin (WBT) $ 18.93 0.15%
ethereum-classic
Ethereum Classic (ETC) $ 18.06 2.52%
first-digital-usd
First Digital USD (FDUSD) $ 0.999136 0.79%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.313052 0.73%
blockstack
Stacks (STX) $ 1.57 1.24%
okb
OKB (OKB) $ 37.77 1.23%
dogwifcoin
dogwifhat (WIF) $ 2.13 6.99%
aave
Aave (AAVE) $ 137.55 2.61%
filecoin
Filecoin (FIL) $ 3.42 1.24%
arbitrum
Arbitrum (ARB) $ 0.508916 2.70%
crypto-com-chain
Cronos (CRO) $ 0.072556 0.14%
mantle
Mantle (MNT) $ 0.569158 1.11%
celestia
Celestia (TIA) $ 4.63 0.78%