The von der Leyen plan against Biden’s subsidies is a threat to the EU market

The Biden administration’s inflation reduction act scares the European Union. Several companies from the Old Continent have already decided to move investments and production to the United States to benefit from subsidies and tax rebates for green technologies – batteries, electric cars, energy – based on the “Buy America” ​​principle. Given the cost of electricity and gas, Europe risks deindustrialisation. On Thursday, EU heads of state and government asked the Commission to speed up the response and it is positive.