Today's Edition Local Missouri Opinion Obits Sports GoMidMo HER Magazine Events Classifieds Public notices Newsletters Election '23 Contests Jobs Special Sections National World
ADVERTISEMENT
ADVERTISEMENT

US, EU to intensify talks on ‘green subsidies’

by The Associated Press | December 6, 2022 at 4:00 a.m.
From left, Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, European Commission Executive Vice President Margrethe Vestager and European Union Commission Executive Vice President Valdis Dombrovskis participate in a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)

WASHINGTON (AP) -- The United States and European Union agreed Monday to intensify talks to resolve EU concerns over major subsidies for American companies contained in a U.S. clean energy law.

Although no deal was reached at a meeting of the bilateral Trade and Technology Council, the two sides pledged to continue work on preliminary progress and said they would push for a solution that benefits both U.S. and European firms, workers and consumers as well as the climate.

The dispute revolves around the U.S. Inflation Reduction Act offers about $375 billion in new and extended tax credits to help the the U.S. clean energy industry as well as buyers of qualifying electric vehicles made in North America.

But European leaders have expressed alarm that the subsidies would be an enormous setback for European companies. French President Emmanuel Macron raised the issue directly with President Joe Biden during his state visit to Washington last week.

U.S. Secretary of State Antony Blinken noted that as soon as the U.S. became aware of the EU's concerns it set up a task force to deal with them.

photo Secretary of State Antony Blinken speaks during a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)
photo European Union Commission Executive Vice President Valdis Dombrovskis speaks during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)
photo U.S. Trade Representative Katherine Tai speaks during a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)
photo From left, Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, European Commission Executive Vice President Margrethe Vestager and European Union Commission Executive Vice President Valdis Dombrovskis participate in a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)
photo Commerce Secretary Gina Raimondo, left, speaks with European Commission Executive Vice President Margrethe Vestager during a U.S.-EU Stakeholder Dialogue during the Trade and Technology Council (TTC) Ministerial Meeting, Monday, Dec. 5, 2022, in College Park, Md. (Saul Loeb/Pool Photo via AP)
photo From left, Secretary of Commerce Gina Raimondo, Secretary of State Antony Blinken, US Trade Representative Katherine Tai, European Union Commission Executive Vice President Valdis Dombrovskis and EU Commission Executive Vice President Margrethe Vestager are seated before the start of the U.S.-EU Trade and Technology Council Strategic Discussion, Monday, Dec. 5, 2022, in College Park, Md. (AP Photo/Manuel Balce Ceneta)

Print Headline: US, EU to intensify talks on ‘green subsidies’

ADVERTISEMENT

Sponsor Content

ADVERTISEMENT
ADVERTISEMENT