Natural Resources Minister Jonathan Wilkinson says Canada most respond to U.S. President Joe Biden's Inflation Reduction Act. REUTERS/Lukas Barth
CNBC: EU says it has serious concerns about Biden’s Inflation Reduction Act
* The sweeping tax, health and climate bill was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies.
* The landmark package comprises tax credits for electric cars made in North America and supports U.S. battery supply chains.
BRUSSELS — The European Union has “serious concerns” about the U.S. Inflation Reduction Act, saying it breaches international trade rules, according to an official document seen by CNBC.
The sweeping tax, health and climate bill was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies.
The landmark package comprises tax credits for electric cars made in North America and supports U.S. battery supply chains.
Read more ....
Update #1: EU Warns US of Potential Retaliation in Green Subsidies Dispute (Economic Times/Bloomberg)
Update #2: EU threatens US over electric car subsidies (AFP)
WNU Editor: The EU is not alone. Canada has a beef with Biden's "U.S. Inflation Reduction Act" and how it contravenes trade agreements .... Canada needs to respond to American Inflation Reduction Act: Minister (Yahoo News).
3 comments:
They don't get it. They are the third world now. That was always the intent.
joe and the Democrats are supposed to be smart. They are supposed to know the ropes. A selling point for biden was he has been in Washington since the 1970s, so he knows how to get things done.
So biden moves to pass legislation or spend money and immediately he violates some other law or Senate approved treaty. Does that sound like they know what they are doing or that they care what they are doing?
American must generally be quite stupid to have removed Trump
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