US protectionist measures can lead to economic war with EU

Europe and the US are on the brink of a trade war because of Washington’s refusal to allow European manufacturers to participate in a programme to combat climate change.

The US promised to invest billions in "green" technologies, while provoking the Europeans, according to Serbia Posts.

The draft law with multi-billion subsidies to combat climate change was approved this summer by the US Congress, at Biden’s suggestion. However, the Europeans have only now realised that only those who produce in America will receive subsidies, the article states.

The author of the article pointed out that the protectionist measures of the US could lead to an economic war with the European Union. According to the opinion of the executive vice-president of the European Commission, Valdis Dombrovskis, there are a number of unfair provisions in the American legislation that violate international law.

Europeans must insist that the prescribed rules of international trade are respected in this process. We will be firm on this issue, said Dombrovskis in a comment to the publication.

At the same time, he emphasised that this development was not completely unexpected for Europe and called Washington to negotiations.

In August, the House of Representatives of the US Congress approved a package of initiatives aimed at reducing inflation in the country, which involves the allocation of funds in the amount of $430 billion. A large part of these funds is intended for climate programmes.