EU Will Respond to ‘Distortions’ in Biden’s Inflation Reduction Act: Von der Leyen

European Commission President Ursula von der Leyen on Dec. 4 said the European Union must act to address “distortions” created by the Biden administration’s Inflation Reduction Act (IRA)—part of Biden’s “Made in America” push.
The EU and the United States are treading precariously close to a major trans-Atlantic trade dispute, at a time when Western nations want to show unity in the face of challenges from authoritarian regimes in Russia and China.
The IRA, approved by the U.S. Congress in August, provides $369 billion in subsidies for climate and green energy policies, including tax credits for companies with facilities in the United States—including those that offer electric cars “assembled in North America,” as well as support the development of domestic battery supply chains….}