World: US, EU Hope to Hash Out Electric Vehicle Credit Tiff

The European Union’s concerns over the Inflation Reduction Act’s modified tax incentives for purchases of electric vehicles have been acknowledged, according to President Biden’s chief foreign affairs adviser. On December 5, the third U.S.-EU Trade and Technology Council (TTC) Ministerial Meeting was held at the University of Maryland, College Park campus. Among the meeting’s agenda was the EU’s contention that the inflation bill’s EV tax credits put European automotive manufacturers at a competitive disadvantage.

“We’ve heard concerns clearly from our European friends about specific aspects of the [Inflation Reduction Act],” said US Secretary of State Antony Blinken about the progress of the EV talks at a joint press conference following the meeting. “As soon as we heard those concerns, we agreed to establish a task force between the United States and the [EU] that is up and running.”


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Smart Grid Bulletin December 2022

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