FILE PHOTO: European Parliament plenary session in Brussels © Thomson Reuters
Irish Times/Financial Times: EU must adapt state aid rules in face of US green subsidies, warns commission chief
Von der Leyen lays out concerns with US Inflation Reduction Act
The EU must “simplify and adapt” its rules on state aid in response to the US’s new $369 billion (€351 billion) climate package, which has soured transatlantic ties and sparked fears of a trade war between Brussels and Washington, European Commission president Ursula von der Leyen said on Sunday.
Europe should “adjust our own rules to make it easier for public investments”, Ms von der Leyen said, in her first set of proposals responding to a chorus of demands from EU states to mitigate and counter the US green energy subsidy scheme.
“The new assertive industrial policy of our competitors requires a structural answer,” she said in a speech focused on the trade row, which EU leaders have warned risked “fracturing” transatlantic unity.
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WNU Editor: EU President Von der Leyen is not the only European official voicing the need for a response to President Biden’s green energy subsidy plan …. US green plan should be ‘wake-up call’ for EU industry: French minister (France 24). More here …. Germany’s Habeck backs ‘Buy European’ response to US trade threat (Politico).
EU President Says Europe Must ‘Take Action’ Against The US $700 Billion Subsidies Package For American Businesses