Posted on 12/13/2022 5:52:06 PM PST by Olog-hai
The European Commission is seeking feedback on whether the 27-country bloc needs to loosen state aid rules to allow governments to support companies affected by the U.S. Inflation Reduction Act, with plans for a European fund in future.
The $430 billion act, which grants consumers tax credits for U.S.-produced electric vehicles (EV) and other green products, has triggered fears it could disadvantage European Union companies and tempt businesses to relocate to the United States. […]
The EU executive will ask countries if looser state aid rules known as the temporary crisis framework, adopted in March for businesses hit by the war in Ukraine, should be extended to companies affected by the U.S. subsidy law, two people familiar with the matter told Reuters earlier. …
(Excerpt) Read more at reuters.com ...
Biden’s B.S. affects the whole world.
Some place here there was a post talking about how Macron gave Biden an earful about the Inflation Reduction Act, in part because it was inflationary.
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