A massive investment program could put Europe at a disadvantage
US subsidies row: The EU Commission wants results by the end of the year
European Union flags in front of the European Central Bank (ECB) in Frankfurt. (archive photo)
© Credit: IMAGO/Panama Pictures
Brussels. In the Dispute over billions in subsidies to American companies The EU Commission expects concessions from Washington by the end of the year. It is important that negotiations with the US government bring tangible results this year, said the Vice-President of the European Commission, Valdis Dombrovskis, in an interview with dpa and other journalists. Then you can analyze the extent to which the EU’s concerns are met and what next steps you can take.
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The background to the dispute between the EU and the US is a massive investment program that many in Europe consider unfavorable. Washington wants to invest tens of billions of dollars in climate protection over the next ten years, for example to boost the manufacturing of solar cells and wind turbines. It is now feared that European and German companies may move to the United States or open new factories there.
“Our problem with the United States is not the subsidies per se, but the fact that they are provided in a discriminatory way,” Dombrovskis said. A concrete example is that many EU member states also grant subsidies for the purchase of electric vehicles. “But in Europe you can also buy an American-made Tesla and get subsidies,” he said.
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Read more after the announcement
In the United States, on the other hand, according to the regulations, you will not receive any subsidies for an electric car manufactured in Europe. “So we have to review our support programs and think about what we can do better and specifically,” Dombrovskis stressed.
RND / dpa
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