Tai Says French Finance Minister Concerned Over IRA
U.S. Trade Representative Katherine Tai, who will be meeting later this week with French Economy Minister Bruno Le Maire, released a readout of a video call the two had, in which she and her counterpart ''discussed France’s concerns over certain provisions of the Inflation Reduction Act. Ambassador Tai and Minister Le Maire agreed that the U.S. and European Union should work together to deepen the bilateral understanding of the legislation, which makes historic investments in green technology and clean energy in order to fight the climate crisis."
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The Associated Press reported that the electric vehicle subsidies in the IRA, which favor North American production of vehicles and batteries, were the subject of an emergency meeting of EU finance ministers on Nov. 25. At that meeting in Brussels, the wire service reported, Irish Trade Minister Leo Varadkar said, "Nobody wants to get into a tit-for-tat or subsidy race. But what the U.S. has done really isn't consistent with the principles of free trade and fair competition."