The European Union (EU) has spoken out against US President Joe Biden's Inflation Reduction Act, which includes tax breaks for US-made electric vehicles (EV) and batteries.
In the view of Brussels, those benefits would put e-cars made in the EU at an unfair disadvantage in the lucrative US domestic market. European ministers also fear their complaints have not been listened to by Washington.
"I'm not sure whether they are aware of our concerns," said Christian Lindner, Germany's finance minister, stating that politicians should do "everything to avoid a tit-for-tat scenario or even a trade war."
His French counterpart, Bruno Le Maire, said he expected the European Commission to come up with "a strong response to this US policy", which it said could "harm this level playing field between the European companies and American companies."
Under the Inflation Reduction Act, households could receive up to...