According to Borrell, the United States has reverted to one of “the most protectionist policies since the 1930s,” he said during a debate in the European Parliament.
“The solutions must always respect international trade agreements. We have always defended that. It is clear that what the United States has proposed goes against those rules on several points,” he said.
The Inflation Reduction Act is President Joe Biden’s energy transition support plan. The focus is on “Made in America”, with tax incentives for the purchase of electric vehicles. European industry fears to feel the consequences.