How the EU wants to stand up to the USA • Table.Briefings

Von der Leyen’s EU Commission wants to strengthen renewables with subsidies. The picture shows the Commission President at the North Sea Summit on the expansion of offshore wind power in summer 2022.

Commission President Ursula von der Leyen has officially presented the EU’s response to the US Inflation Reduction Act (IRA). The EU Green Deal Industrial Plan envisages more subsidies and simpler procedures. However, details on the funding via an EU Sovereignty Fund are still open.

With the Green Deal Industrial Plan, the EU Commission is responding to the US government’s plans for massive subsidies for the US industry under the IRA. Brussels wants to provide relief for the EU economy, but it should be as targeted as possible. Investment subsidies for strategic green industries, such as tax breaks for the expansion of production capacities, are to be allowed.

How the EU wants to stand up to the USA on GreenTech

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