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Monday, January 30, 2023

Government rejects US subsidy law as unacceptable and seeks answers

The Spanish government has shown its dissatisfaction with the inflation reduction law. (IRA) approved by the United States to provide subsidies to promote green technology and has called for a European response to deal with the 27’s impact on industry.

Legislation approved by the Joe Biden administration considers a package 369 billion dollar subsidy to increase Energy Investments in the United StatesThere have already been warnings from Brussels that this could harm European industry, particularly automobiles, batteries or renewable energy.

in moncloa they believe so is not acceptable Between partners and allies such as the United States and the European Union that such measures are adopted without prior consultation expressing their seriousness Doubts that the remedy is in accordance with WTO rules (OMC).

waiting for conversation

In this context sources emphasize that if these subsidies are implemented they are not only Industrial projects in Germany or France are at riskIts president, Emmanuel Macron, has emerged as one of the most important voices against the US law, but also in Spain if no agreement is reached.

For the Spanish government, the best solution would be negotiations so that America will withdraw this new law Or at least to accept a European exception for key areas potentially affected, as is already the case in Mexico or Canada. If this is not possible, government sources have added, the EU should study whether it is worth it. go to wto or other types of trade defense measures.

an important european response

In addition, the government recognizes EU must reactBut no concrete solution has been found so far. Thus, he does not view one’s view as evil sovereign fund Raised by the President of the European Commission Ursula von der Leyen, although it will be necessary to see its scope, its amount and its financing and what is its purpose.

However, the Spanish executive believes more must be done. agile and effective other existing toolshow can they be fondos next generationwhich may also finance the projects, or easing of state aid Without the need to create other new equipment to meet the US challenge.

The IRA and its impact on European industry will be one of the topics European leaders will address during this Thursday’s council in Brussels, in which energy crisis That would also be another excellent point, although the nature of the debate will depend on the outcome of Tuesday’s meeting of energy ministers in which they are trying to seal a deal for a cap on the price of gas.

Ahead of this Thursday’s meeting, Brussels will host on Wednesday the first summit of leaders of the European Union and the Association of Southeast Asian Nations (ASEAN), which is made up of ten countries from this part of the world, although no one has been selected for the occasion. There would be no attendance in Burma, ruled by a military junta.

President of the Government, pedro sanchezwill attend both the meetings and take advantage of the appointment with Asian countries to maintain Bilateral meetings with the President of the Philippinesbongbong marcos, and with VietnamNguyen Xuan Phuc.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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