Biden’s Climate Plan Is ‘Dangerous’ Says UK Business Secretary
- Business secretary says US law could lead to protectionism
- US Inflation Reduction Act includes tax credits, mandates
Grant Shapps
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President Joe Biden’s plan to subsidize clean energy is “dangerous” and risks pushing the world toward protectionism, UK Business Secretary Grant Shapps said, in Britain’s strongest criticism to date of the US Inflation Reduction Act.
European Union leaders say the US legislation will unfairly benefit American firms and violate World Trade Organization rules. To date, Prime Minister Rishi Sunak’s administration has stayed relatively quiet on the issue, despite recent warnings from inside his own Conservative Party that the UK risks missing out on the economic opportunities of the green energy transition.