European flags in front of the headquarters of the European Commission in Brussels. Photo credit: Figurniy Sergey/Adobe Stock.
German Chancellor Olaf Scholz called for closer cooperation between the United States and the European Union (EU), urging the trans-Atlantic allies to resolve differences over green subsidies pushed by President Joe Biden's administration. "We must not allow ourselves to be divided in the trans-Atlantic relationship," Scholz said Wednesday in a speech to lawmakers in Berlin. "On the contrary, we should work much more closely together and strengthen joint trade with the USA."
The new U.S. law would subsidize North American companies, including electric vehicle producers, spurring tension with the EU. France has accused Washington of pursuing a "Chinese-style" industrial policy that discriminates against non-U.S. companies and has said it may take the U.S. to the World Trade Organization (WTO) over the law.
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