Washington is facing some backlash from its European allies – European Union, Britain and others on settled by parts of a US law. The multi-billion dollar company inflation reduction act, subsidies and tax cuts for US purchases of electric vehicle if they ‘buy American’.
#washington #US #worldnews
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The United States and the European Union are currently locked in a heated dispute over America’s Inflation Reduction Act, which has sparked tensions between the two economic powerhouses.
The Inflation Reduction Act, introduced by the Biden administration, aims to curb soaring prices and inflation by implementing a range of measures including tax credits for energy-efficient home improvements and an extension of the enhanced child tax credit. The U.S. government argues that the Act is essential to alleviate the financial burden on American households and stimulate economic growth following the COVID-19 pandemic.
However, the EU has expressed strong opposition to the Act, claiming that it could have detrimental effects on global trade and the international economy. European officials have raised concerns that the Act could lead to unfair trade practices, including the subsidization of U.S. exports and the imposition of tariffs on EU goods.
The dispute has further strained transatlantic relations, which have already been under pressure due to disagreements over trade, climate change, and digital taxation. The U.S. and the EU have long been key allies and trading partners, but recent tensions have highlighted the diverging economic interests and priorities of the two blocs.
In response to the Inflation Reduction Act, the EU has threatened to retaliate with its own set of measures, fueling fears of a potential trade war between the U.S. and Europe. The possibility of retaliatory tariffs and trade barriers could have severe implications for businesses and consumers on both sides of the Atlantic, intensifying economic uncertainty and market volatility.
The escalation of the U.S.-EU spat has also drawn attention from other global actors, with China and Russia closely monitoring the developments. Both countries are looking to capitalize on the rift between the U.S. and Europe to advance their own economic agendas and expand their influence in the international arena.
As the dispute continues to unfold, there is mounting pressure on the U.S. and the EU to find a diplomatic resolution that addresses their respective concerns while preserving the stability of global trade. Failure to do so could result in far-reaching consequences for the world economy, further complicating the ongoing recovery from the COVID-19 pandemic.
The U.S.-EU spat over America’s Inflation Reduction Act underscores the complexities of international economic relations and the challenges of reconciling divergent national interests. It serves as a reminder of the importance of diplomacy and cooperation in addressing global economic issues and promoting sustainable growth and prosperity for all.
America wants to treat EU as a slaves. EU should be dependent on America.
Spending money you don't have to stop inflation is like being on a diet, and the only thing you eat are cheeseburgers.
Who cares what they think, criticism is only words, we need the money. Not our fault you can’t do the same.
When did the US become an EU country that the EU is frowning at the policy of another country. That's a lazy man's attitude
The EU is learning the cost of being a vassal state of an empire. Because make no mistake , America is an emperial power.
If it was truly an "inflation" act it wouldn't have included more inflation ! Inflation is an expansion of the money supply.
Ursula Van Delyen, sanctionings and restrictions are not fair competition.
Fool me once, shame on me, fool me twice, shame on you. Grow up!
NATO and USA totally controlling the EU !!!
Widespread uses of Electric cars, along with 50% green city-and-infrastructure power, 'affordably' assimilated into societies, will only be a reality within 50 to 150 years.
None of the leaders are telling the truth about the CURRENT NON-feasibility; they are pretending that all of this is ready 'right now'.
They are trying to appease Leftist voters, and now they are all in a trap of lies that will waste trillions of dollars that no one even possesses. And they 'know and understand' that this is NON-FEASIBLE. So, they are playing games with pushing 'green' dreams, merely for the sake of 'jobs' and votes?
Yes. That's the only effect of all of this nonsense. That, and 'debt' like the world has never seen before.
I think this lot are gonna find that the only thing worst that being an enemy of America,is being it's friend,???.
Why are these unelected psychos
doing the talking here,they do not have the consent of the people, totally undemocratic if you ask me.
More BS about "climate change" . Scam!
Why don't they just leave us alone and go away with their evil agendas?
The Dominant plan of China to Control Indo Pacific trades,to Paralysed All International Traders is to Cotrol South China Sea to Invades West Phikippines Sea To Invades by Forces Taiwan,to closed Iternational Waters in Asia to be Controled in International Water Free Routes is better to stay in your Own Backyard and Stop Quarrels about Trades Competations becoz china the god of Cotrol your future buseness
Charge Sudhamani Idamannel with treason, mass murder, and extortion. Neither should she be allowed to represent India at United Nations nor speak at Geneva Convention.
Good day, After losing so much money on stock and crypto market, trading on my own hasn't been good enough due to fud and inflation of market and I met a lady who help me to trade on cryptocurrency after trading on crypto currency and I made up to $25,790 with $5000 every week.
The USA is now seeing what the EU is all about.
Eu seems to be following what THE UK DID…
Hypocrites
The USA HAS STEPPED UP EVERYTIME WE WERE CALLED ON. HOW DARE THESE COUNTRIES HAVE THE GAUL TO PUT US DOWN. GOD HELPS THOSE WHO HELP THEMSELVES.
Level playing field you say the Caribbean and Africa waiting on Reperations and compensation for things stolen destroyed or bloodshed caused by you and your European criminal friends. How does the injustice feel now?
I told everyone green energy is the future and every industry that accompany it will benefit and this green energy can be the solution to pull out the world economy from recession. It will create alot of jobs and benefits the world
America doesn't care about anyone else…. Certainly not a friend of Europe!!!
I miss trump he would’ve told EU to get lost already