On January 1, a law in the United States to reduce inflation comes into force, in response, Europe is preparing its own law, which, according to Politico, could lead to a trade war.
US President Joe Biden in August of this year signed a law to reduce inflation. This law refers to subsidies and tax incentives in the amount of 369 billion dollars. The European Union suggests that the US move will allow many companies to move their investments out of European countries. It is believed that this will particularly affect electric vehicle manufacturers from Germany and France.
Politico says Europe will make its measures “largely symbolic.” The countries of the European Union have the opportunity to increase investment in industry to create industrial solar panels, batteries, hydrogen technologies.
Although, the newspaper believes that such a situation is very precarious and can lead to a real trade war, in which Germany and France will be the main actors.
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