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Feb 19, 2025
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Some EU leaders fear industries attracted by the new giant US subsidy scheme, the Inflation Reduction Act, may leave for the other side of the Atlantic (Photo: European Commission)

Swedish EU presidency: 'Subsidy not answer' to US green protectionism

by Wester van Gaal, Brussels, January 12, 2023, 5:04:42 PM
1 co-observer

US president Joe Biden's $369bn [€341bn] green subsidy package dominated the European political agenda this week as Sweden took over the EU's six-month rotating presidency.

As one of the bloc's most ardent free-market guardians, the Scandinavian country was scrambling to defuse ever more explosive calls for equally big EU state subsidies to match the US offer under the Washington's Inflation Reduction Act (IRA).

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

Some EU leaders fear industries attracted by the new giant US subsidy scheme, the Inflation Reduction Act, may leave for the other side of the Atlantic (Photo: European Commission)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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