The United States and the European Commission have agreed to eliminate negative competitiveness from the process of greening economies. After talks held in Washington, US president Joe Biden and European Commission president Ursula von der Leyen announced the start of negotiations with respect to an overarching US plan to subsidize the national car industry, which has produced concerns in a number of the USA’s European partners. The $370 billion plan for climate action spending will provide credits to American consumers to buy new or second-hand electric vehicles. The law restricts the awarding of credits to vehicles built in North America only and provides strict rules with respect to essential minerals used in the building of vehicle batteries. According to Radio Romania’s correspondent, European officials were very vocal in their criticism, saying the law reportedly puts EU businesses at a disadvantage. The two leaders also discussed plans to keep exerting economic pressure on Russia in the context of its war in Ukraine. The Biden administration has warned its allies that Beijing might soon deliver weapons to Moscow. The US intelligence says Beijing will seek to consolidate its ties with Moscow in order to provoke the United States, despite the international community having condemned the Russian invasion of Ukraine.
