The U.S. Treasury Department issued guidance in late December that would allow EU companies to benefit from certain credits without needing to alter their business models.The European Union is still not completely satisfied with recent concessions from Washington on its historic set of green energy subsidies, urging the U.S. to add more benefits for European car manufacturers.
Additionally, French and German delegations are due to travel to the United States together next month to seek further clarity on how the upcoming subsidies will work.The U.S. Treasury Department issued guidance in late December that would allow EU companies to benefit from certain credits without needing to alter their business models. However, other guidance on how the legislation will be implemented is still outstanding.
However, in the same statement, it added:"The EU continues to seek similar, non-discriminatory treatment of EU clean vehicle producers under the Clean Vehicle Credits of the Inflation Reduction Act. This scheme remains of concern to the EU, as it contains discriminatory provisions."The U.S. move to go ahead with such a high level of subsidies has motivated EU nations to take a closer look at how they support businesses.
In addition, von der Leyen suggested that the EU should tap the markets and use those funds to raise the level of financial support — an idea that Germany and the Netherlands were critical of.