The president of the European Commission, Ursula von der Leyen, promised this Sunday an “adequate and well calibrated” response to mitigate the “distortions” of US law to reduce inflation.
“Europe will always do what is right for Europe. The European Union (EU) will respond adequately and well calibrated to the law of reducing inflation. However, this means that we are going to enter a difficult trade war with the United States,” said Ursula von der Leyen, speaking at the College of Europe, Belgium.
According to the President of the European Commission, the EU’s response will be based on three pillars: the relaxation of the rules on public aid, the search for new sources of EU financing and cooperation with the US authorities on key issues for the green economy.
The official stressed that she was in favor of “cooperation instead of confrontation” with Washington, adding that Brussels will continue to talk with US President Joe Biden to try to change the law.
For von der Leyen there is a “surprising symmetry” between this law and the European Green Pact, since both contemplate climate strategies.
However, he warned that there are risks of unfair competition and fragmentation of supply chains.
Source: Observadora
