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Bloomberg
The European Union (EU) should improve its state aid rules and consider more green-transition funding to offset possible distortions from the new US climate and tax law, said European Commission President Ursula von der Leyen.
Her remarks came a day before the US-EU Trade and Technology Council ministerial meeting to be held at the University of Maryland, where the law is likely to be a hot topic.
The legislation, known as the Inflation Reduction Act, passed this summer and has become a point of contention in Europe, with complaints that Washington is attempting to lure business investment away from the bloc with massive subsidies.
With the #EUGreenDeal and the #InflationReductionAct, the EU and the US are modernising their economies and addressing climate change, the biggest challenge of our time.