Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region
Wakim: The US is preventing the armament of the Lebanese army. The question is, why are the weapons it is handed over by the Resistance being destroyed?

EU eyes resolving disagreements about the US Inflation Reduction Act

  • By Al Mayadeen English
  • Source: Agencies
  • 18 Jan 2023 16:45
3 Min Read

The European Council's president notes that the EU and the US were close allies, but even allies disagree.

  • x
  • European Council President Charles (REUTERS)
    European Council President Charles (Reuters)

European Council President Charles Michel said, on Wednesday, the European Union is looking for a favorable outcome from talks around the US Inflation Reduction Act (IRA), which is a topic of dispute between the EU and the US.

Speaking at a plenary session of the European Parliament, Michel said: "We sincerely hope the dialogue with American friends will lead to concrete positive results. Let's be clear, in my opinion, European companies must be able to benefit from the same conditions as Canadian and Mexican companies." 

The European Council's president stated that the EU and the US were close allies, but even allies disagree.

The IRA, which was signed into law by US President Joe Biden in August 2022, commits $300 billion to deficit reduction, as well as approximately $370 billion in funding for energy security, including tax credits for US-made electric vehicles and consumer subsidies, and $80 billion to increase Internal Revenue Service tax enforcement and operations.

A flashback

Related News

Israeli media: US betrayed Qatar, gave green light for attack on Hamas

Pentagon spends $10.8bln on 25 classified weapons to counter China

In recent months, relations between the EU and the US have not been very smooth. The EU has lately condemned the subsidies offered to American companies in President Biden’s Inflation Reduction Act, giving them unfair leverage over their European rivals.

Back in October, German Chancellor Olaf Scholz and French President Emmanuel Macron agreed that American subsidy plans will end up distorting the market, as they intend to sway companies to shift production to the US. 

The UK has already announced it joined the EU in opposing the Act, but European leaders have been scrambling for ways to push for amending the IRA.

Unlike trading partners with the EU, the IRA has exemptions set for products from its NAFTA partners, and the EU has been calling for these exemptions to be extended to the EU. 

On December 4, Bernd Lange, the chair of the European Parliament's Committee on International Trade, stated that the EU should lodge a complaint with the World Trade Organization (WTO) against the US regarding the contentious Inflation Reduction Act (IRA).

On December 17, China's Commerce Ministry said thirty-two member-states of the World Trade Organization (WTO) sent the US over 2000 inquiries over the week regarding its discriminatory trade policy.

On December 22, in a bold move against the US, Macron said that European countries should be more decisive in the NATO alliance and reduce their “reliance on the US," highlighting the necessity to develop more autonomy in technology and defense capabilities, including from the US.

Read next: EU should improve competitiveness against US IRA: EU Chief

  • US
  • EU
  • UK
  • ira
  • US Inflation Reduction Act

Most Read

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Britain Trained Israeli Soldiers Involved in Gaza War: Declassified
Europe

UK training of Israeli officers sparks outcry over Gaza war complicity

Luxembourg's Prime Minister Luc Frieden arrives for an EU summit at the European Council building in Brussels, Thursday, June 26, 2025. (AP Photo/Omar Havana)
Politics

Luxembourg to recognize Palestine at UN summit next week

European Union flags flap in the wind outside EU headquarters in Brussels, Wednesday, Sept. 3, 2025 (AP)
Politics

EU exec. branch to adopt new sanctions against 'Israel' on Wednesday

Charlie Kirk killing suspect faces charges in Utah court hearing
US & Canada

Charlie Kirk murder suspect faces formal charges in Utah court hearing

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS