Breaking News
Investing Pro 0
Free Webinar - Crude Oil Trading 2023 | Thursday, February 9, 2023 | 01:00PM PST Enroll Now

EU, US must address concerns over U.S. inflation act - German fin min

Economy Nov 07, 2022 10:10AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: German Finance Minister Christian Lindner holds a news conference on new estimates for tax revenue in Bonn, Germany October 27, 2022. REUTERS/Benjamin Westhoff/File Photo

BERLIN (Reuters) - Germany wants dialogue with Washington rather than tit-for-tat measures to ease trade tensions triggered by the U.S Inflation Reduction Act, which could harm European businesses and industry, Germany's finance minister said on Monday.

Christian Lindner said a task force set up between the United States and the European Union should address the issue urgently.

"The correct path now is to seek dialogue with the U.S. administration in order to exchange concerns and find common ways in which our economic interests can be combined," Lindner said ahead of talks with his Eurogroup counterparts in Brussels.

"I have not been assured that the American side has completely grasped how great our concerns about the consequences are," he told reporters, while expressing confidence that solutions could be found.

"In everyone's interest, we will not enter a tit-for-tat but rather strengthen the sources of wealth and growth together," he added.

U.S. President Joe Biden signed the $430 billion anti-inflation bill into law in August, which includes state aid for certain industries such as the car sector.

The EU has said the new legislation, which makes tax breaks conditional on U.S-manufactured content, puts at a disadvantage European car companies and those producing a wide range of goods from the "green economy" sector, including batteries, hydrogen and renewable energy equipment.

Earlier on Monday, French Finance Minister Bruno Le Maire said the law was a major threat to European companies and that the EU must stand firm against it.

EU, US must address concerns over U.S. inflation act - German fin min
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
First Last
First Last Nov 07, 2022 11:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
As much as the US subsidizes/supports its agriculture sector, EU does more, & China even more.
jason xx
jason xx Nov 07, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
we will work something out just keep re arming Germany we may need you to go another round with the Russian menace
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email