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Reuters
Reuters
Business
By Philip Blenkinsop

EU demands quick fix from U.S. of green subsidy law

FILE PHOTO: European Union flags fly near the European Commission headquarters in Brussels, Belgium, October 4, 2019. REUTERS/Yves Herman

European Union ministers warned on Friday that time was running out to resolve differences with Washington over U.S. plans to give tax credits to consumers buying electric vehicles and other green products as long as they are made in North America.

The EU argues the $430 billion Inflation Reduction Act, to take effect in January, will make the United States a world leader in the electric vehicle market at its expense.

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