The United States and European Union have agreed to intensify talks to resolve EU concerns over major subsidies for American companies contained in a U.S. clean energy law.
From left, Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, European Commission Executive Vice President Margrethe Vestager and European Union Commission Executive Vice President Valdis Dombrovskis participate in a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md.
The dispute revolves around the U.S. Inflation Reduction Act offers about $375 billion in new and extended tax credits to help the the U.S. clean energy industry as well as buyers of qualifyingBut European leaders have expressed alarm that the subsidies would be an enormous setback for European companies. French President Emmanuel Macron raised the issue directly with Presidentduring his state visit to Washington last week during which Biden and other U.S.
“Today, I think we advanced that discussion,” said Blinken, who co-chaired the meeting with U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai along with European Commission Executive Vice Presidents Valdis Dombrovskis and Margrethe Vestager. Vestager agreed, saying Monday's discussion was “really helpful to show that there is a real concern.”
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