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Europe's costly response to billions in US government subsidies

2023-02-03T19:12:34.077Z


SEEN FROM ELSEWHERE - While the United States intends to support their companies to the tune of 370 billion dollars - in particular those which manufacture electric cars, wind turbines and solar panels on site - Brussels plans to launch its own program of subsidies....


By Stefan Beutelsbacher (

Die Welt

)

The European Commission intends to show firmness in the face of the multi-billion dollar climate subsidies granted by the United States and to relax the rules on state aid.

This is what emerges from a project of the Brussels authority, a project that the newspaper Die Welt was able to consult.

It will be officially presented on Wednesday, and the European Parliament and member state governments will then negotiate the details.

The Commission's

 Green Deal Industrial Plan 

is the response to a US law called the Inflation Reduction Act, or IRA, which provides for the promotion of environmentally friendly technologies and is considered one of the greatest triumphs of the President Joe Biden.

The US government thus intends to support companies to the tune of 370 billion dollars – in particular those which manufacture products such as electric cars, wind turbines and solar panels…

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Source: lefigaro

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