EU Doubts Biden Will Make Europe-Friendly Tweaks to Climate Bill
- American Inflation Reduction Act has angered European nations
- The EU is planning to change aid rules for national companies
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The European Union is skeptical that the US will make any meaningful changes to the $370 billion green investment plan that the bloc says unfairly subsidizes American companies.
Even though President Joe Biden said last month that he saw room for tweaks to the Inflation Reduction Act “to make it easier for European countries to participate,” the US has so far only offered tax credits for commercial electric vehicles, which EU officials view as insufficient, according to people familiar with the matter.