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Thursday, February 2, 2023

The EU is united in its trade dispute with the United States, says Scholz

German Chancellor Olaf Scholz said on Wednesday that the European Union would be united in its dispute with the United States over US President Joe Biden’s climate plan and his “green” subsidies, which are seen by Europeans as discriminatory.

In a speech to the House of Representatives ahead of the EU-ASEAN summit in Brussels, Scholz stressed that the plan “makes an impressive contribution to the transformation of the US economy.”

“Europeans have wanted America to move in this direction for a long time,” he said.

But this package of measures “should not prevent fair competition,” he insisted. “Therefore I strongly support the intensive negotiations that the European Commission is conducting with the United States,” said the head of the German government.

He insisted, “I have spoken with the President of the United States because we must not allow him to divide us in our transatlantic relationship.”

“On the contrary, instead of arguing, we should work even more closely and strengthen fair trade with the United States,” he asserted.

Tensions have risen between the EU and the United States following the adoption of this mega climate plan last summer, which is expected to see investments worth $420,000 million, a significant part in the form of subsidies and tax cuts, especially for electric vehicles. , battery and renewable energy projects that favor “Made in the USA.”

The Europeans reject the plan considering these subsidies as a discriminatory measure and contrary to World Trade Organization (WTO) rules.



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