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U.S. Trade Official Tai Discussed Inflation Reduction Act With EU's Dombrovskis
U.S. Trade Representative Katherine Tai on Friday met with European Union Executive Vice President Valdis Dombrovskis and discussed the U.S. Inflation Reduction Act, Tai's office said in a statement. EU countries fear the U.S. legislation's $369 billion of subsidies for electric vehicles and other clean technologies could put companies based in Europe at a disadvantage. The subsidies, largely for manufacturers based in North America have local content requirements that EU leaders fear may lure companies away from Europe. The legislation excludes electric vehicles assembled outside of North America from tax credits in ... (full story)