FORT WORTH, Texas (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday the Biden administration was listening to concerns voiced by its European Union allies over the Inflation Reduction Act (IRA).
This $430 billion support plan, particularly for green energy and health, is seen as highly protectionist by Europeans concerned about the consequences for their industry.
The issue was at the center of the recent state visit to Washington by French President Emmanuel Macron, who called for American subsidies to also benefit European producers.
“We will see what is legal and what is feasible,” Janet Yellen told reporters, adding that by passing the IRA, the US Congress intended to secure US supply chains by associating US allies.
(Report by Andrea Shalal; written by Kanishka Singh; French version by Tangi Salaün)
