Brussels wants to rearm its industry against the US and China

Thierry Breton, EU Commissioner for the Internal Market, in Brussels on 19 September. Valeria Mongelli/Hans Lucas via Reuters Connect

Members of the Commission plead for a European “sovereignty fund”.

Correspondent in Brussels

The American Climate Change Act (IRA), which is causing so much turmoil in Europe, will undoubtedly be the elephant in the room when representatives of the European Commission – Executive Vice Presidents Valdis Dombrovskis and Margrethe Vestager – meet in the US on Monday. of Foreign Trade Antony Blinken, Foreign Trade Representative Katherine Tai and Trade Minister Gina Raimondo to the third meeting of the Trade and Technology Council.

On Friday, during the briefings devoted to this meeting, the Commission officials made an honor to evacuate all the questions about the subsidies foreseen in this American law. However, we are talking about 200 billion dollars in subsidies and tax credits that are exclusively reserved for productions located in the United States. And this in key industries such as electric cars, wind power and green hydrogen.

Convinced that this problematic law…

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