EU demands rapid fix from U.S. to green subsidy law

  • 📰 Reuters
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Nigeria Nigeria Headlines News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

European Union ministers warned on Friday that time was running out to change Washington's plans to grant consumer tax credits for U.S.-produced electric vehicles and other green products.

, to take effect in January, could make the United States a world leader in the electric vehicle market at Europe's expense. It wants an exception to be made for EU products, as has already been agreed for Canadian and Mexican goods.

"These are no easy discussions, but they must produce concrete solutions," he said, adding that in the current geopolitical context, with Russia's war in Ukraine, partners should build alliances in important sectors such as renewables and batteries. French minister Olivier Becht said the U.S. green transition should allow for fair competition, rather than breach World Trade Organization rules and trigger a subsidy race. The act could face a test at the WTO, although no member has yet brought a formal challenge.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The future may be Europe, but not leftism.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines