EU is preparing for a new trade war with US — newspaper
MADRID, November 9. /TASS/: The European Union is preparing for a new trade war with the United States after Washington approved the Inflation Reduction Act aimed at helping the national production, the Spanish newspaper Diario reported on Wednesday.
Under this act, the American authorities are to allocate about $400 billion on climate and energy policies. The law in particular promotes the transition to green energy, thereby affecting the European automotive sector, which is very important in countries such as Germany and France, the newspaper wrote.