EU demands quick fix from U.S. of green subsidy law

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European Union ministers warned on Friday that time was running out to resolve differences with Washington over U.S. plans to give tax credits to consumers buying electric vehicles and other green products as long as they are made in North America.

The EU argues the $430 billion Inflation Reduction Act, to take effect in January, will make the United States a world leader in the electric vehicle market at its expense.

Irish deputy prime minister Leo Varadkar said the EU and the United States would ideally come to an arrangement at the meeting of the Trade and Technology Council in December, but that, failing that, the EU would have to respond.

 

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