German Chancellor Olaf Scholz said he’s convinced that a trade war can be avoided between the European Union and the US over a recent package of green subsidies introduced by Joe Biden’s administration.
Some of Washington’s allies have been angered by Biden’s climate-friendly tax law, known as the Inflation Reduction Act, even though it’s dedicated to boosting green tech and promoting a carbon-neutral future. They’re unhappy about subsidies which they say favor American firms and put their EU rivals at a disadvantage.
