The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies that favour domestic manufacturers.
The 27-nation bloc is upset about Washington’s “Inflation Reduction Act”, which will see vast spending on green energy initiatives and includes tax breaks for US-made electric cars and batteries.
Brussels says those benefits for American electric vehicle makers would put e-cars made in the EU at an unfair disadvantage on the lucrative US domestic market.
EU finance ministers meeting in Brussels said they believed Washington was not hearing Europe’s worries.
“I’m not sure whether they are aware of our concerns,” German Finance Minister Christian Lindner said.
He added: “We should do everything to avoid a tit-for-tat scenario or even a trade war.”
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