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

Isle of Man to freeze electricity prices until...

August 26, 2022

Monzo Achieves First Annual Profit Despite Surge in...

June 3, 2024

Stagnant wages since 2008 financial crash means workers...

March 20, 2023

Female FTSE 100 board members earn 69% less...

November 18, 2024

Issa brothers consider £13bn flotation of EG group...

December 30, 2024

Secrets of Success: Simon Biltcliffe – Executive Chairman,...

December 12, 2023

Bitcoin hits record $94,000 as trump vows to...

November 21, 2024

Four-day working week requests to come ‘flooding in’ 

March 27, 2023

Consumers rein in spending as confidence falls to...

October 24, 2022

How a positive culture can help your company...

May 15, 2024

    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

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • 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