AFP extension
ANNOUNCEMENTS•
The European Union wants to prevent unfair competition through a billion-dollar US plan to fight climate change and inflation. Commission President von der Leyen said in a speech this afternoon that she wants to maintain a level playing field by changing EU rules and urging Americans to limit “market-distorting elements”.
In her speech, von der Leyen applauded the fact that the US government has allocated nearly 400 billion euros to support the economy in a sustainable way, for example with subsidies for green products. She warned, however, that such support would make scarce raw materials more expensive and could prompt European companies to relocate.
In addition, he criticized the policy of mainly supporting products made in the United States. Together with subsidies for the purchase of an electric car, this brings a double benefit for American car manufacturers, for example.
Protectionism
“We need to look closely at these issues and learn lessons about what we can do better,” said von der Leyen. Talks will take place tomorrow between US Secretary of State Blinken and European Vice-Presidents Vestager and Dombrovskis.
The American plans had already caused resentment in Europe. President Macron called them super aggressive during a visit to the US and the German finance minister spoke of “a particularly protectionist economic policy”.
At the same time, people in Brussels and Washington also want to do everything they can so that the consensus on Russia’s invasion of Ukraine is influenced by a trade war. At Macron’s visit, Biden has therefore already said that he wants to make “small adjustments” to prevent unwanted side effects.
