Trade tensions between the United States and the European Union over the Inflation Reduction Act and the billions it provides to subsidize electric vehicles and other clean energy efforts will overshadow the state dinner President Joe Biden is hosting for French President Emmanuel Macron Thursday night.
But they’ve also put the U.S. at odds with European allies, which argue the subsidies violate international trade laws and would damage their own industries. In comments filed to the U.S. Treasury Department earlier this month, the European Commission said five Inflation Reduction Act measures that offer tax credits and subsidies “contain provisions with clearly discriminatory domestic content requirements” in breach of WTO rules and risk a global “race to the bottom” on clean energy incentives.
And even after it does, the organization has no appellate body in place currently that would allow it to hear appeals or serve as a final court of jurisdiction to mediate international trade fights — grinding the dispute settlement process to a halt and rendering the body largely toothless.In response to the Inflation Reduction Act, Macron has urged the EU to adopt a “Buy European” program, which would prioritize the use of European-made components in key industries.
Source: Car News Wire (carnewswire.net)
takkan ada maaf....aku siap mati....
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden hosts French President Macron amid friction over US climate lawFrench President Emmanuel Macron isn't hiding his displeasure with aspects of Biden's signature climate law that Macron said will have an enormous negative impact on European companies.
Source: fox5ny - 🏆 587. / 51 Read more »
Biden to host French President Macron at his first state dinnerThe dinner is a chance for the leaders to toast each other and their respective countries and strengthen ties that have frayed amid disputes over trade and national security. Poor Macron I hope he uses Head & Shoulders before the dinner; hate for another president to feel insecure next to him & point out unnecessary things in front the press core Don’t eat the food!!!
Source: NBCNews - 🏆 10. / 86 Read more »
Biden Welcomes French President Macron to White House for First State DinnerBiden said France is America’s “oldest ally” and “unwavering partner” during the welcoming ceremony at the South Lawn on Thursday morning, reportedly calling the Macrons “close friends.” 🇺🇸❤️🇫🇷💙
Source: thedailybeast - 🏆 307. / 63 Read more »
LIVE: President Biden, Macron hold joint conference during French president's state visitWATCH LIVE: President Biden will hosts a joint press conference with Emmanuel Macron as a part of the French president's three-day state visit.
Source: wjxt4 - 🏆 246. / 63 Read more »
Biden hosts French President Macron amid friction over US climate lawFrench President Emmanuel Macron isn't hiding his displeasure with aspects of Biden's signature climate law that Macron said will have an enormous negative impact on European companies.
Source: FOX29philly - 🏆 570. / 51 Read more »
French leader Macron criticizes U.S. climate policy ahead of meeting with BidenThe two leaders will sit down in the Oval Office for morning talks that officials from both sides said were expected to largely center on the leaders’ efforts to stay united in their response to Russia’s war in Ukraine and to coordinate their approach to an increasingly assertive China.
Source: clevelanddotcom - 🏆 301. / 63 Read more »