DW News published this video item, entitled “Tensions rise between EU and US over Inflation Reduction Act | DW News” – below is their description.
The European Union is adapting its rules in the wake of a new green energy subsidies program introduced by the United States.
Speaking in Belgium, the European Commission president said competition is good when there is a level playing field. Ursula von der Leyen says the generous tax breaks in America’s new Inflation Reduction Act could lure away EU businesses and disadvantage European companies. Her announcement comes ahead of an EU-US ministerial meeting on Trade and Technology.
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DW News is a global English-language news and information channel from German public international broadcaster Deutsche Welle, established in summer 2015.
Belgium, officially the Kingdom of Belgium, is a country in Western Europe. It is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, and the North Sea to the northwest.
It covers an area of 30,689 km2 (11,849 sq mi) and has a population of more than 11.5 million, making it the 22nd most densely populated country in the world and the 6th most densely populated country in Europe, with a density of 376 per square kilometre (970/sq mi). The capital and largest city is Brussels; other major cities are Antwerp, Ghent, Charleroi, Liège, Bruges, Namur, and Leuven.
Legally, Belgium is a sovereign state and a federal constitutional monarchy with a parliamentary system. Its institutional organization is complex and is structured on both regional and linguistic grounds. It is divided into three highly autonomous regions: the Flemish Region in the north, Wallonia in the south, and the Brussels-Capital Region.
The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
The United States is a country also known as the United States of America, USA, US or just America. There are fifty states in the union, which is a federal republic ruled by a representative democracy. Nearly ten million square kilometres are inhabited by over 300 million people. The majority of Americans speak English.
