European Council President Charles Michel said that EU summit participants decided to take urgent measures to support the competitiveness of European companies in response to the US Inflation Reduction Act. His words at the press conference after the EU summit TASS.
As Michel points out, the EU remains a loyal and true friend of the United States.
“While the US Inflation Reduction Act is a cause for concern, we plan to work and negotiate with our American friends,” said the president of the European Council.
Michel also said that the EU summit authorized the European Commission to take urgent measures to maintain the competitiveness of European companies in early 2023.
French President Emmanuel Macron spoke On the US preparation of a response to the Inflation Reduction Act. According to him, the European Union will pass its own equivalent of this bill, which is called a violation of the norms of the World Trade Organization in Europe.
The French president stressed that the answer must be formulated “before the end of the first quarter of 2023”.