The European NetworkThe EU is in emergency mode and is readying a big subsidy push to prevent European industry from being wiped out by American rivals.
President Biden is currently rolling out a $369 bn industrial subsidy scheme to support green industries under the Inflation Reduction Act.
EU officials fear that businesses will now face almost irresistible pressure to shift new investments to the US rather than Europe.
https://www.politico.eu/article/eu-hits-emergency-button-to-save-european-industry/
