EU Green Deal Industrial Plan to rival US

The President of the European Commission has announced a “Green Deal Industrial Plan” in response to rivalry with the US. According to the International Energy Agency, the clean energy sector will be worth around €600 billion by 2030. In the US, President Biden has promised massive subsidies through the so-called Inflation Reduction Act. Announcing Europe’s response this morning, Ursula von der Leyen pledged more generous state aid funding and a “bridging solution” to support European industry fast in the race against the US.

 

Out words: The coin
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