Tensions rise between EU and US over Inflation Reduction Act

The European Union is adapting its rules in the wake of a new green energy subsidies program introduced by the United States.
Speaking in Belgium, the European Commission president said competition is good when there is a level playing field. Ursula von der Leyen says the generous tax breaks in America's new Inflation Reduction Act could lure away EU businesses and disadvantage European companies. Her announcement comes ahead of an EU-US ministerial meeting on Trade and Technology.