The European Union is adapting its rules in the wake of a new green energy subsidies program introduced by the United States.
Speaking in Belgium, the European Commission president said competition is good when there is a level playing field. Ursula von der Leyen says the generous tax breaks in America’s new Inflation Reduction Act could lure away EU businesses and disadvantage European companies. Her announcement comes ahead of an EU-US ministerial meeting on Trade and Technology.
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#EU #USA #InflationReductionAct…(read more)
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Tensions between the European Union and the United States have ramped up in recent days over the Inflation Reduction Act proposed by the US government. The Act, aimed at curbing inflation in the US, has raised concerns among EU officials who fear that it may have negative repercussions on the global economy and on transatlantic relations.
The Inflation Reduction Act, introduced by the US Treasury Department, includes measures such as increasing interest rates and reducing government spending in an effort to tackle rising inflation in the country. While the US government argues that these measures are necessary to stabilize the economy and protect American consumers from rising prices, EU officials have expressed concerns about the potential impact of the Act on the global economy.
European leaders have warned that the Inflation Reduction Act could lead to a slowdown in global economic growth and have called on the US government to consider the potential consequences of its proposed measures. They have also stressed the importance of coordination and cooperation between the US and the EU in addressing economic challenges, particularly in a time of global economic uncertainty.
The tension between the EU and the US over the Inflation Reduction Act comes at a time when transatlantic relations have been strained by a series of disagreements on various issues, including trade, security, and climate change. The proposed Act has added another layer of complexity to an already complicated relationship, raising concerns about the ability of the two sides to work together on key economic and political issues.
Some EU officials have also expressed concern that the Inflation Reduction Act could have a negative impact on the value of the euro and on European exporters, further complicating the economic relationship between the two sides. The potential for retaliatory measures from the EU in response to the Act is also raising fears of a trade war between the two economic powerhouses.
As tensions rise, both the EU and the US are facing the challenge of finding a way to address inflation and economic uncertainty without causing further damage to their already strained relationship. Finding common ground and working together to address economic challenges will be crucial for the two sides to maintain a healthy and constructive transatlantic partnership.
The coming weeks and months will be crucial in determining the direction of transatlantic relations and the potential impact of the Inflation Reduction Act on the global economy. It remains to be seen how the EU and the US will navigate these tensions and find a way to work together to address the economic challenges facing both sides.
No offense to our western counterparts, but as an American taxpayer, I want American politicians to put Americans first. We were forced to enter WW1, ended it. We were forced to enter WW2, fighting on 2 war theaters, ended it. Even after WW2, Americans paid for The Marshall Plan, billions were given to Germany, France, & Italy to rebuild after WW2. American taxpayers are dishing out billions for Ukraine/Russia War. Now we are sending billions & more soldiers to Israel. We provide so much money to NATO. We feed all 3rd world countries with Food Aid & financial aid. As an American taxpayer, I'm so tired of looking at homeless camps in California & homeless veterans. Sorry Germany & EU, but US taxpayers want our own people to be taken care of first. We can not continue to be the World Police. America has the most arable farmland in the world. We have enough oil/gas under our land to last 1,000 years. We are still the police of all the Oceans. Yes, the US insures, secures, & patrols over 2/3rds of all global trade. Not trade from just the US but for the entire world. We do this so that pirates or other countries do not pray upon other individual countries shipments/trade. I say let's close all military bases all over the world & allow countries to fight their own wars, because, as a Veteran myself, I'm sick of being the answer to all other nation's problems. I say that it's time we forgo The New Order & allow other countries to make their own financial policies, militarys, & figure out their own energy & food production.
The United States is using the weakening of the European economy to generate growth at home. The clearest sign of this is the Inflation Reduction Act, which is causing German companies to migrate to the USA. They find better conditions, government subsidies and lower energy prices there. So far, the EU has not reacted to the trampling of its economy by its "good friend and partner". Fazi concludes by writing:
"We are witnessing a process of intra-Western economic cannibalization. It may be hard to imagine how weakening a key strategic ally can be a successful long-term strategy – but: does anyone in Washington or Brussels have a long-term strategy these days?"
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
EU needs to stop complaining and actually do something, a country needs to look out for it's own interest first. All countries do this in one way or another. Don't blame the USA for all your problems. Vote for different politicians then.
The answer is yes it is fair. Go suck an egg.
欧洲只是美国的殖民地
Well boys hang on tight, it’s recession time.
I like how America does something right for a change, and somehow the EU is pissed.
Europe should just be chill and talk about dropping tariffs for American car imports and then no IRA boom.
Europe should just ditch America as "ally" as look towards China and Russia. They are not two faced liars like americans.
I GOT MY BELIVING and CONFIDENS IN THE EU LEADERS LADY DUE TO WHAT SHE SAID.
THE US HAS BEEN PLANNED FOR A LONG TIME TO 'WIPE OUT EUROPE ' which is like a gown up kids PLANNING TO KILL IT;S PARANTS' MURD …… which is dead penalty in some countries in the world ….
THE US WENT A BIT TOO AMBICIOUS NOT TO BE NOTICABLE THEY WANTED TO WIPE OUT EUROPE and THE EUROPEAN AND I ARE VERY PROUD FOR FIRST TIME OF URSULA AND THOSE INCREADIBLE GOOD AND FAIR BUSINESS MANS IN EUROPE !
THE US MUST LEARN TO NEGOCIATE and NOT JUST GO OUT and KILL IF I DO NOT GET MY WAY TO KILL….!
the US HAS THANKS GOD GOOD OLD PEOPLE AS WELL A BRILIANT NEW YOUNG ONES WHO IS CONCERNED ABOUT TO BUILD US and NOT NEGLIGATE IT by GOING WARDSLESS LIKE A CRAZY KID AGAINST EVERYBODY. THIS ATTITUDE IS THIEF and THAT IS JAIL EVEN IN THE US LAW.
THE NEW GENERATION IS SO GOOD FOR TO FIGHT FOR BETTER US BY SOLVING THE PROBLEMS ALONG WITH MANY OLD US MAN THEY MUST CONTINUE AND GIVE A CHANCE FOR TO GET IT DONE BEFORE PLAYING VIKINGS IN 21st CENTURIES or MARCO POLO
THEY LOOKS AND ACT LIKE DIGITAL STEERED FROM THE HOLYWOOD FILMS ala 70s and 80s
WHICH IS A PURE FANTASY
The next move by American companies is to become majority stakeholder in European companies that settle in America, could definitely see major American companies like General Electric, Honeywell, Intel, Micron, General Motors, Lockheed Martin etc. acquire majority stake in European companies, literally dividing them into daughter companies of major American conglomerates and then sold to an independent American firm to consolidate what was once a European business. Europe is at a tipping point.
You've got to be kidding me, The War is truly unfortunate but you cannot try to control the American economy because you are hurting. Europeans do not buy American EVS often so incentives do not benefit the US much, Tesla lost all their tax incentives a few years ago but you don't hear them complaining. This bill was designed to increase US market share on US soil. The EU does this all the time with goods and services through tariff and taxing in order to benefit EU industries and companies. This is not a new strategy and they can very well offer a similar package in the EU. The EU needs to stop relying on everyone else for their own economy and protection, alliances are perfectly reasonable and beneficial, but the EU lags so far behind in technology, contributes almost no money to defense, and has now gone so far as to complain that they are disadvantaged on American soil. I love the EU but they need stronger policies and require less idealism which puts them in vulnerable positions, IE Russian gas.
2:06 Just say u wanna be apart of the United States
Why EU is crying now?
uncle sam is going to be mad at EU over oil cap the dollar value is droping to 57 now it's ust 55
EU VS USA
EU labour cost and supplies are better but energy cost too high.
USA labour cost and supplies are bad. But not much… but energy cost is lower.
EU eventually will resume Russiannenergy when the war ends. People forget. EU will win but takes mid term time …
Warum gibt es diesen Beitrag nicht auf DEUTSCH ? Auf einem DEUTSCHEN Kanal ?
They just need to start selling used superyachts and supercars cheap, to support €$£ and billionaires should start buying new superyachts and supercars to support production. And they should invest few trillions to private solar batteryes and wind turbines production in EU and instal em everywhere. And Putin vse
i hope usa just leaves eu and let them deal with their own problems
Lol Europeans are so spoiled and it's our fault. We've been subsidizing their security & economy for far too long. Now it's just ungratefully expected of us. Don't give in to the guilt trip America, secure our future first.
It’s our country, the US needs to be more firm in its policies
Yes let usa make more clown out of you. It's all about profits for usa
What a strategic move from the US, Smashed EU industries and Russia with this proxy war. The sad part is that the recession will only get worse in 2023. I think stores better have tight security because when people can't afford to feed their families, things might get out of hand.
EU can’t give any tax breaks , because they need money to support social programs.
Green agenda sucks/ the United states needs to bring back the gold standard. The United States has plenty of gold. We will be the economic power house of the world again
The EU should follow the international rules, which is followed by the USA right now.
Finally EU superstate standing up to the US
When the EU says Equal Playing
Field, they mean wait for us so that we can come up with our own.
The Americans have been begging the EU to be more aggressive and adapt fast to changes but Germany and co prefer to keep their Automobile market in China.
Even the Chinese will run those Automobile companies to the ground.
The Americans are tired of waiting and the EU prefers to regulate.
When was the last time Europe invented anything…?
EXACTO RTVE DIRIGE EL GENOCIDIO ENTERO CIERTO.
The Inhalation Reduction Act is long overdue. For those on The Continent, consider it a modest price to pay for the U.S.basically being you're collective defender. We don't exec gave an adequate social safety net stateside!
LA LEY DEL TIRANO MAS ASESINO IMPUESTO.
——
SIEMPRE.
AL PUEBLO SOBERANO.
CENSURANDO ACOSANDO.
AMORDAZANDO MATANDO.
VIOLANDO EL CODIGO DE NUREMBERG.
TIENE QUE TERMINAR.
YA BASTA ASESINOS.
FIN.
Is the U.S. playing fair? Never.
This 'climate action Investment' will unravel over the decade; As it extends the Solar Investment Tax Credit for 10yrs.