EU must act over distortions from US climate plan - von der Leyen

Posted on AllSides December 5th, 2022
From The Center
World, EU, Europe, Businesses, Trade War, Inflation Reduction Act, Climate Change
PA Media

The EU must address "distortions" created by a $430bn (£349bn) US plan to incentivise climate-friendly technologies, the bloc's chief says.

Some EU members have criticised the US Inflation Reduction Act (IRA), raising fears of a trade war.

There are concerns that tax breaks may lure away EU businesses and disadvantage European companies.

European Commission President Ursula von der Leyen said the EU should "adjust our own rules".

"Competition is good ... but this competition must respect a level playing field," she said during a speech in Belgium.

Under the IRA,...

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