Leaked EU plan reveals response to US and Chinese green subsidies

1 month ago 12

Draft plan to loosen state aid rules follows Joe Biden’s Inflation Reduction Act and Chinese subsidies

The EU executive will loosen state aid rules and propose a new “European sovereignty fund” later this year, in response to the controversial US Inflation Reduction Act and China’s “unfair” green subsidies.

A leaked European Commission plan underscores the global green subsidy race is under way, although EU member states remain divided on how to respond.

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