The EU & the US are going head-to-head over the Inflation Reduction Act

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Written By Jennifer Joslyn

🇪🇺 The EU & the US are going head-to-head over the Inflation Reduction Act.

In the recently-passed IRA bill, the United States is offering tax benefits to those renewable energy companies operating domestically. Trade partners in Europe are demanding the same treatment and warning that there could be retaliation if the United States doesn’t amend the legislation to be non-discriminatory against them. The European Union has cited the possibility of destructive competition on a global scale and claims that President Biden’s preferential treatment creates an uneven playing field. both sides of the debate hope to settle the discussion before the Trade and Technology Council in early December.

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Jennifer Joslyn
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