Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

EU set to relax state aid rules to compete with US

by December 5, 2022
December 5, 2022
EU set to relax state aid rules to compete with US

The European Union should relax its state aid rules to compete with mass US subsidies for green technology, the head of the European Commission has said.

Ursula von der Leyen, commission president, paved the way for Brussels to “improve” its powerful competition and anti-trust rules in order to “rebalance the playing field” on investment in green technologies following a subsidies spat with the US.

The Biden administration has angered Brussels and European capitals with a $369 billion package of tax breaks for US industries under Washington’s Inflation Reduction Act (IRA). Europeans have complained that the Act will favour the US electric vehicle producers and could lure some European companies to relocate to America to take advantage of the preferential treatment.

“To keep up in the clean tech race, we need to do our homework in Europe and rebalance the playing field where the IRA and others create distortions,” von der Leyen told an audience at the College of Europe yesterday.

“If we see that investments in strategic sectors are leaking away from the European Union, this would only undermine the single market. And that is why we are now reflecting on how to simplify and adapt our state aid rules,” she said.

Biden said the IRA could be “tweaked” to alleviate European demands, when he met France’s President Macron last week. There has been speculation that the subsidies rules could be widened to include European companies, after similar exemptions were made for US trading partners like Canada and Mexico.

Read more:
EU set to relax state aid rules to compete with US

0
FacebookTwitterGoogle +Pinterest
previous post
More minorities and women get seats on boards
next post
Women in their fifties face £7,000 pay gap

You may also like

Apple pull the plug on self-driving electric car...

February 28, 2024

Government shelves slot machine reforms as concern grows...

April 23, 2025

UK opts to pay with phones as the...

June 27, 2023

How to show real appreciation in the workplace

April 2, 2024

UK SMEs admit running their own business has...

May 15, 2023

Irish economy recovering strongly

June 5, 2023

How you can benefit from fast withdrawal casinos

August 12, 2024

House prices continue to fall as buy-to-let landlords...

May 30, 2023

Employers slash hiring plans as wage costs rise...

May 12, 2025

Billionaire Issa brothers planning £8billion takeover of fast...

March 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved