Trade
Italy’s Meloni Urges EU to Work on Way to Counter US Aid Package
- Premier says EU needs to rethink its own rules on state aid
- Says there’s need to work on independence on chips, energy
Giorgia Meloni
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
The European Union should rethink its rules to disburse state aid and have a stronger oversight of key supply chains like energy and chips to counter the US Inflation Reduction Act, Italian Premier Giorgia Meloni said.
The climate-friendly tax legislation passed by President Joe Biden’s administration is in Europe’s crosshairs on grounds that it will dole out subsidies that give US firms an unfair advantage.