EU must act over distortions from US climate plan - von der Leyen
World,European Union,Climate Change,Inflation Reduction Act,Business,Europe,Trade War
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, American consumers will get incentives to purchase new and second-hand electric cars, to warm their homes with heat pumps and even to cook their food using electric induction.
