Thursday, February 9, 2023

Von der Leyen: In order to counter the U.S. subsidy program, the EU should do so.

December 5 According to a report on the Financial Times website on December 4, European Commission President von der Leyen said on the 4th that the European Union must “simplify and adjust” national aid rules to offset the competitive effect of the new $3369 billion climate package launched by the United States.

In his first public response to the Washington Green Energy Subsidy Program Inflation Reduction Act, Von der Lean said that Europe should “adjust our own rules to make public investment easier.” EU leaders said that the U.S. subsidy plan will attract European companies to move and may “disintegrate” transatlantic unity.

It is reported that Washington’s measures have worsened relations between Washington and Brussels and led EU countries to unanimously demand a competitive response, thus exacerbating concerns about the trade war.

According to the report, Von der Leyen said, “Structuristic solutions need to be formulated to deal with competitors’ aggressive (US) new industry policies.”

The proposal made by the EU executive head may be far-reaching, highlighting Brussels’s concern about the U.S. Inflation Reduction Act.

U.S. President Biden called the bill the most “positive action” taken by the United States in response to the climate crisis. But European allies complain that measures such as tax credits and subsidies for products such as electric vehicles have given U.S. companies an unfair advantage and will prompt EU enterprises to relocate.

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