EU seeking to offset Biden’s green plans with own subsidies

By RAF CASERT
Associated Press

BRUSSELS (AP) — European Union leaders and member nations are putting forward moves to ensure the EU would not be left behind by the United States in the green industry race. EU leaders see the $369 billion U.S. Inflation Reduction Act as an attempt to cut European firms out of the lucrative American market for clean energy technology like electric vehicles. They say it excessively favors a “made-in-America” approach that discriminates against European multinationals. France especially has stood up to push through bigger subsidies in green sectors faster. EU Council President Charles Michel said Monday that “it is crucial that the EU remains an attractive place to invest, innovate and produce.”