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Europeans divided over US subsidies

2022-11-29T18:16:35.192Z


DECRYPTION – Since the fall, the EU has been measuring how far Joe Biden's inflation reduction law pushes protectionism. It will penalize the industries of the bloc.


There was, as often in Europe, a delay in ignition.

In mid-August, when Joe Biden promulgated with great fanfare his so-called "IRA" inflation reduction law, which plans to devote some 370 billion dollars to the reduction of greenhouse gases, Brussels sees nothing but fire.

In a tweet, Ursula von der Leyen even welcomes the text.

After the very difficult Trump years, the President of the European Commission is pleased that the United States is returning to the fight against global warming.

But in the fall, as energy prices climb in the EU and economies slow, Europeans see how far the law pushes protectionism and will penalize industries in the bloc.

Read alsoEmmanuel Macron in the United States to defuse tensions

“It's pure discrimination in favor of local producers.

It is contrary to everything to which the Americans have subscribed since 1947. With this law, they have sat on the rules of international trade”

, criticizes Pascal Lamy, president emeritus of the Institute…

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Source: lefigaro

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