EU 'welcomes' access in US green subsidies

By Agence France-Presse

Dec 31, 2022 12:06 am

(UPDATED) WASHINGTON, D.C.: The European Commission said Thursday (Friday in Manila) it 'welcomes' US guidelines on a green subsidy scheme for commercial vehicles after officials outlined their implementation under a landmark spending bill the country passed earlier this year.

The US Inflation Reduction Act (IRA) contains around $370 billion in subsidies for green energy, as well as tax cuts for US-made electric cars and batteries.

WELCOME DEVELOPMENT Flags of the European Union fly outside the EU headquarters in Brussels, Belgium on May 21, 2021. The European Commission said Thursday, Dec. 29, 2022, it ‘welcomes’ US guidelines on a green subsidy scheme for commercial vehicles after officials outlined their implementation under a landmark spending bill the country passed earlier this year. XINHUA PHOTO

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