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U.S., EU to address Inflation Reduction Act fears constructively -draft

News Snapshot:

The United States and the European Union will seek to tackle EU concerns about a new U.S. green energy subsidy package in a constructive way, officials from both sides are due to say at a meeting next week, a draft joint statement shows. The 27-country bloc fears that the U.S. $430 billion Inflation Reduction Act with its generous tax breaks may lure away EU businesses and disadvantage European companies from car manufacturers to makers of green technology. The topic is one of several on the agenda of the EU-U.S. Trade and Technology Council meeting on Dec. 5. Participants include U.S….

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