How the EU can resist US subsidies
2022.12.04 09:39
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How the EU can resist US subsidies
Budrigannews.com – On Sunday, the chief executive of the European Union said that the bloc will change the rules of state aid in order to prevent the outflow of investments caused by a new program of subsidies for clean energy from the United States.
In a speech by European Commission President Ursula von der Leyen in Belgium, she said: “The competition is good… but this competition must meet equal playing conditions.” After that, she said: “The US law on reducing inflation should make us think about how we can improve the framework of state aid and adapt them to the new global conditions.”
The Group of 27 countries is worried that the tax benefits provided by the US law on reducing inflation of $ 430 billion could prevent European companies, including car manufacturers, developers of environmentally friendly equipment, from doing European business. The agenda of the meeting of the Council of Europe and the United States on trade and technology on December 5 includes this topic.
In addition to the Executive Vice-Premiers of the European Commission Valdis Dombrovskis and Margaret Vestager, US Trade Representatives Catherine Tai, US Secretary of State Andrei Blinken, as well as Trade Minister Gina Raimondo were also present.
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