Biden's climate plan strains ties with European allies

US President Joe Biden's landmark climate action plan has become a subject of tension between the United States and European Union, which fears it could hurt European industry.

Some investments are in the form of tax cuts for companies that invest in clean energy, but there are also significant subsidies for electric vehicles, batteries and renewable energy projects -- if they are manufactured in the United States. At the start of the month, the EU unveiled proposals including a controversial expansion of state aid rules partly to counter the threat from US green subsidies.

Le Maire and US Trade Representative Katherine Tai agreed in November that both sides "should work together to deepen the bilateral understanding of the legislation," according to a statement. The subsidies in question are very popular, especially in states such as Ohio and Michigan, where the automotive industry remains powerful. Their "swing state" status gives them considerable political clout.Before the EU, Canada and Mexico expressed concerns about the IRA, which they saw as incompatible with the free trade agreement between the three North American countries.

EU politicians dragging their civilization in the mud doing the US' bidding. ayan, all those sanctions backfired.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gyrating European gas price forecasts leave companies in the darkAmid concerns that gas prices could again spike higher, the options for some companies in Europe are stark.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

FBI searches Biden's vacation home; no classified documentsWASHINGTON, D.C.: The FBI searched President Joe Biden's vacation home in Rehoboth Beach, Delaware, on Wednesday without turning up any classified documents, the latest turn...
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Air raid sirens sound in Kyiv during visit by European leaders(1st UPDATE) President Volodymyr Zelenskiy has called for more punitive measures against Russia by the European Union, but new sanctions the bloc is preparing for the anniversary are set to fall short of his government's demands
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Zelensky wants tougher Europe, Putin evokes victory over NazisUkrainian President Volodymyr Zelensky urged European leaders visiting Kyiv to pile more sanctions on Russia, where President Vladimir Putin evoked a famous World War Two victory over the Nazis to rally his nation. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Air raid sirens sound in Kyiv during visit by European leadersAir raid sirens sounded across Ukraine as President Volodymyr Zelenskiy hosted European Union leaders to discuss further sanctions on Russia and Ukraine’s prospects of joining the European bloc. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

IPC welcomes 2023 with a new president | Patrick TulfoISUZU Philippines Corp. (IPC) welcomes the new year with a new president, Tetsuya Fujita, he replaces IPC’s current president Noboru Murakami who will be transferred to his new assignment in Isuzu North America. Fujita started working for Isuzu Motors Limited (IML) in 1991 and his impressive resume includes stints as…
Source: BusinessMirror - 🏆 19. / 59 Read more »