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We've detected you are on Internet Explorer. For the best Barrons.com experience, please update to a modern browser. CHROME SAFARI FIREFOX We've detected you are on Internet Explorer. For the best Barrons.com experience, please update to a modern browser.GoogleFirefox Search News & Quotes Barron's TopicsStock PicksLists & RankingsMagazineDataAdvisorPenta 30-Day Free Trial Subscribe Today. Subscribe Today. Subscribe Today. |Sign In Barrons EU Planning New Subsidies To Promote Inhouse Green Tech * * * * Share Summary Summary U.S Europe Asia FX Rates Futures ETFs Crypto DJIA Futures 0.20 33205.00% S&P 500 Futures 0.31 3927.75% Nasdaq Futures 0.51 11414.50% Stoxx 600 -1.55 450.45% SSE Index 0.76 3264.81% Crude Oil 0.42 80.67% U.S. 10 Yr 0.83 3.41% Bitcoin 0.10 20962.13% Dollar Index 0.05 102.11% Barron's 400 -0.76 952.94% This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. https://www.barrons.com/news/eu-planning-new-subsidies-to-promote-inhouse-green-tech-01673359809 * FROM AFP NEWS EU PLANNING NEW SUBSIDIES TO PROMOTE INHOUSE GREEN TECH * * * * -------------------------------------------------------------------------------- By AFP - Agence France Presse January 10, 2023 * Order Reprints * Print Article BARRON'S NEWSLETTERS THE BARRON'S DAILY A morning briefing on what you need to know in the day ahead, including exclusive commentary from Barron's and MarketWatch writers. I would also like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. I agree to the Privacy Policy and Cookie Policy. Enter your Email SIGN UP You have been successfully subscribed to The Barron's Daily. Your first delivery will arrive within two days. Continue Reading Text size The European Union is planning new subsidies to promote inhouse green technology and counter a US measure that the continent's carmakers see as protectionist, the bloc's internal market commissioner said Tuesday. The US Inflation Reduction Act (IRA) contains around $370 billion in subsidies for green energy, as well as tax cuts for US-made electric cars and batteries. European countries have been unsettled by the policy, which lavishes benefits on buyers of US-made electric cars, saying it is discriminatory. "We need to react, we cannot stay still," European Internal Market Commissioner Thierry Breton told a business forum in Madrid. The former French economy minister said he was "working hard to propose to our industrial ecosystem something which could be comparable" to the US plan. "We will propose something very quickly," he said. Among IRA's provisions are tax credits for electric vehicles –- up to $7,500 for new purchases –- that will only apply if the product is assembled in the US and the majority of components are sourced domestically or from a free trade partner. Breton said this would create a "barrier" to trade which was "unacceptable" and violated World Trade Organization rules. US President Joe Biden said last month the Inflation Reduction Act was never intended to disadvantage US allies. While negotiations are underway between Brussels and Washington for a solution, calls for a tough line from some in the EU have stoked fears of a trade war. vab/ds/ach The Barron's news department was not involved in the creation of the content above. This story was produced by AFP. For more information go to AFP.com. © Agence France-Presse -------------------------------------------------------------------------------- More from News Corp * Realtor.com Looking to buy your first home? You’ve come to the right place. * Mansion Global Inside NBA Player Kelly Olynyk’s Cubist-Style Michigan Mansion * MarketWatch You can now get an annual Sam’s Club membership for under $25 * Financial News London Terry Smith pockets another £36m in five-year pay bonanza streak * PENTA J-Hope, T-Swift: Top Pop Stars Join Forces to Raise Funds for Charity Ahead of Grammy Awards Close EU PLANNING NEW SUBSIDIES TO PROMOTE INHOUSE GREEN TECH The European Union is planning new subsidies to promote inhouse green technology and counter a US measure that the continent's carmakers see as protectionist, the bloc's internal market commissioner said Tuesday. From To Message SEND An error has occurred, please try again later. 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