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Sun Political Scientist: US won’t cave to EU on IRA subsidies KXan 36 Daily News

Date: May 31, 2023 Time: 21:24:15

Although Europe is still waiting for talks with Washington, Sun says there is little chance of revising the law.

“The United States is openly applying discriminatory economic policies… The implementation of the bill to reduce inflation will obviously further intensify the transfer of European capacity for the production of electric vehicles to the United States,” said the political scientist.

Sun stressed that the main goal of the law is to support the US electric car industry, and if European manufacturers are included in the law, the US will not be able to achieve its goals.

The Inflation Reduction Act provides tax breaks for companies that invest in clean energy. Manufacturers of electric cars, batteries and renewable energy sources, whose production has been established in the United States, will be able to count on subsidies.

The head of the European Commission, Ursula von der Leyen, has already warned of the threat of a trade war between the EU and the US because of this act. And the South Korean Trade Minister called on Europe to fight the US law together.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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