EU says Biden’s anti-inflation bill puts European car companies and ‘green economy’ sector at a disadvantage. Photo: Bloomberg
EU says Biden’s anti-inflation bill puts European car companies and ‘green economy’ sector at a disadvantage. Photo: Bloomberg

US inflation reduction act poses a risk to Europe’s industrial base, EU chief says

  • US President Joe Biden signed the US$430 billion anti-inflation bill into law in August, which includes state aid for certain industries, such as the car sector
  • EU says the legislation, which makes tax breaks conditional on US-manufactured content, puts European car companies and ‘green economy’ sector at a disadvantage

EU says Biden’s anti-inflation bill puts European car companies and ‘green economy’ sector at a disadvantage. Photo: Bloomberg
EU says Biden’s anti-inflation bill puts European car companies and ‘green economy’ sector at a disadvantage. Photo: Bloomberg
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