President Joe Biden is offering about $370 billion in subsidies and tax breaks to boost green industries and cut US greenhouse-gas emissions. But some of America’s largest trading partners including the European Union and Japan say the measures will unfairly benefit US companies and harm free trade. If the dispute escalates, it’s likely to hinder the growth of technologies needed in the shift to a low-carbon economy.
The Inflation Reduction Act passed in the US last year offers subsidies and tax credits for the production of electric vehicles, renewable electricity, sustainable aviation fuel and hydrogen. Solar and other green industries are creating thousands of US jobs as the economy recovers from the pandemic, and a solid economy would help Biden if he seeks reelection in 2024. Policymakers in Europe, Japan and South Korea are concerned that the law could lure investment to the US that might otherwise flow to their regions.
At least he didn´t blue us
They’re welcome to build manufacturing here, hire locals, pay local taxes, sponsor local school activities…
I would do the same. Europeans always complaining instead of actually spending money.
I don’t understand two things about this:
1. How is offering a subsidy for cars whose batteries are >40% made in the US in any way related to climate protection? Less waste on transport or what?
2. How can other countries seriously whine about another country wanting to protect its own economy?
We offered to do this together. Europe said no. Now European allies are fuming that we *dare* subsidize our own industries after the whole supply chain debacle. Politicians seem so out of touch here. Popular opinion is pretty much always for having a better EU industry to compete with the US and China, but the feet dragging and finger wagging is it. Just lame. Waiting for the next step feels like forever.
How come the US is a flag and the EU is a dude
Honestly personally don’t give a shit anymore I just welcome any move that progresses us for climate change since we’re so fucked with all these politicians
Europe doing this with various laws that just happen to go after US big tech over the years in the name of privacy. If anything, this was a smart and not-so-subtle fuck you back.
EU mostly subsidies consumers US subsidies manufacture.
This means that EU consumers can cheaply buy foreign made green technology, and EU doesn’t export it’s green tech.
While US consumers will be able to cheaply buy US made green technology and will be able to export their green tech.
EU leaders care more about making popular choices then about driving the economy, this is why we keep falling behind… perhaps they should fume about all the mistakes they had been doing so far?
You would think Europe would be encouraging any green initiative in the US. I mean anything that gets Americans going Green is good for the planet.
I know this is false because President Biden is too old to bed over at that angle. If that’s a lie, we must question everything
This is perfect, the only thing other countries have to do now is doing the same and trade will remain equal while huge progresses will be made
Possibly ignorant question incoming, but why doesn’t the EU just do the same thing or something similar?
Can’t read the article, does it say who specifically in Europe is fuming over this?
Divisionist propoganda. Look at the user name.
Am I the only one that doesn’t think this is a bad thing? Government subsidies should be going to things that advance society. It’s subsidies for fossil fuel industry that is a bad thing.
Idk like I understand the whole, if the US boost their companies it means european green companies aren’t as competitive. but…then the EU should equally be boosting research into green industry. Whatever gets us to a greener future faster. In the same way that government subsidies of airplanes helped accelerate research into airplanes, the internet, and reusable rockets (SpaceX and NASA partnered heavily to get SpaceX funding to help accelerate their research).
I’m cool with one country trying to promote their industries as long as it is for the betterment of the planet. Usually if countries have open trade, work together etc, even if one country does it first, the technology does pass on to the rest.
How can twenty-seven countries not contribute $370 billion to compete with the US?
18 comments
Context: [Why Biden’s Green Subsidies Have US Allies Fuming](https://www.bloomberg.com/news/articles/2023-01-18/why-eu-objects-to-us-green-subsidies-tax-breaks-quicktake?leadSource=uverify%20wall)
President Joe Biden is offering about $370 billion in subsidies and tax breaks to boost green industries and cut US greenhouse-gas emissions. But some of America’s largest trading partners including the European Union and Japan say the measures will unfairly benefit US companies and harm free trade. If the dispute escalates, it’s likely to hinder the growth of technologies needed in the shift to a low-carbon economy.
The Inflation Reduction Act passed in the US last year offers subsidies and tax credits for the production of electric vehicles, renewable electricity, sustainable aviation fuel and hydrogen. Solar and other green industries are creating thousands of US jobs as the economy recovers from the pandemic, and a solid economy would help Biden if he seeks reelection in 2024. Policymakers in Europe, Japan and South Korea are concerned that the law could lure investment to the US that might otherwise flow to their regions.
At least he didn´t blue us
They’re welcome to build manufacturing here, hire locals, pay local taxes, sponsor local school activities…
I would do the same. Europeans always complaining instead of actually spending money.
I don’t understand two things about this:
1. How is offering a subsidy for cars whose batteries are >40% made in the US in any way related to climate protection? Less waste on transport or what?
2. How can other countries seriously whine about another country wanting to protect its own economy?
We offered to do this together. Europe said no. Now European allies are fuming that we *dare* subsidize our own industries after the whole supply chain debacle. Politicians seem so out of touch here. Popular opinion is pretty much always for having a better EU industry to compete with the US and China, but the feet dragging and finger wagging is it. Just lame. Waiting for the next step feels like forever.
How come the US is a flag and the EU is a dude
Honestly personally don’t give a shit anymore I just welcome any move that progresses us for climate change since we’re so fucked with all these politicians
Europe doing this with various laws that just happen to go after US big tech over the years in the name of privacy. If anything, this was a smart and not-so-subtle fuck you back.
EU mostly subsidies consumers US subsidies manufacture.
This means that EU consumers can cheaply buy foreign made green technology, and EU doesn’t export it’s green tech.
While US consumers will be able to cheaply buy US made green technology and will be able to export their green tech.
EU leaders care more about making popular choices then about driving the economy, this is why we keep falling behind… perhaps they should fume about all the mistakes they had been doing so far?
You would think Europe would be encouraging any green initiative in the US. I mean anything that gets Americans going Green is good for the planet.
I know this is false because President Biden is too old to bed over at that angle. If that’s a lie, we must question everything
This is perfect, the only thing other countries have to do now is doing the same and trade will remain equal while huge progresses will be made
Possibly ignorant question incoming, but why doesn’t the EU just do the same thing or something similar?
Can’t read the article, does it say who specifically in Europe is fuming over this?
Divisionist propoganda. Look at the user name.
Am I the only one that doesn’t think this is a bad thing? Government subsidies should be going to things that advance society. It’s subsidies for fossil fuel industry that is a bad thing.
Idk like I understand the whole, if the US boost their companies it means european green companies aren’t as competitive. but…then the EU should equally be boosting research into green industry. Whatever gets us to a greener future faster. In the same way that government subsidies of airplanes helped accelerate research into airplanes, the internet, and reusable rockets (SpaceX and NASA partnered heavily to get SpaceX funding to help accelerate their research).
I’m cool with one country trying to promote their industries as long as it is for the betterment of the planet. Usually if countries have open trade, work together etc, even if one country does it first, the technology does pass on to the rest.
How can twenty-seven countries not contribute $370 billion to compete with the US?