European industry may lose to American firms that receive state aid, the news outlet reports The EU is developing a major subsidy push to prevent European companies from being wiped out by US rivals that are receiving government aid, Politico reported on Tuesday, citing sources. Two senior EU officials told the news website that the dispute concerns the so-called Inflation Reduction Act, a $369 billion industrial subsidy scheme, rolled out by US President Joe Biden to support green industries. According to the report, EU officials fear that businesses will now face almost irresistible pressure to shift new investm
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