EU closer to end trade dispute with US, moves on Green Deal funds
The European Union moved closer to ending a trade dispute with US President Joe Biden on Wednesday following months of wrangling over the billions of America-first incentives in his clean technology plans and said it would ramp up a similar subsidy-laden effort at home.
European Commission President Ursula von der Leyen told the parliament plenary that in its attempt to produce at least 40 per cent of the clean tech needed by 2030 in the 27-nation bloc, it would allow for the tax breaks and the flexible use of EU funds on top of simplifying and speeding up industrial approvals.
She spoke of a striking symmetry between the US efforts and the European Green Deal plans.
Both of them are simultaneously a climate strategy and a strategy for investment and growth, von der Leyen said.
Her upbeat comments came on the eve of the European Commission, the EU's executive arm, tabling plans for the Net-Zero Industry Act on industrial incentives and a Critical Raw Materials Act, which seeks to .