27 Countries Line Up AGAINST Biden’s Inflation Reduction Act In EU Trade Talks

The European Union’s top trade official on Monday called for urgent steps before the end of the year to modify a U.S. climate law that would cut off the bloc’s electric vehicles from U.S. tax credits, calling the measure discriminatory.

This year’s $430-billion Inflation Reduction Act offers generous tax credits of $7,500 for new purchases of Tesla Inc., Ford Motor Co. and other North American-made EVs, which the 27-country bloc fears will significantly hurt European automakers.

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