European Commission executive vice president Valdis Dombrovskis on Tuesday said the EU and the US must find “workable solutions” to mitigate the effects of a US green subsidies package or Brussels will face “even stronger calls” to respond.
“Subsidies must not come at the cost of well-functioning markets and fair competition,” Mr Dombrovskis said alongside US trade representative Katherine Tai in Brussels.
The EU is particularly worried about tax cuts and significant subsidies for US-maelectric vehicles and batteries, and renewable energy projects that are included in a stimulus package adopted by US Congress in August, called the Inflation Reduction Act.
EU officials believe the act unfairly discriminates against European companies and a task force has been working on finding a negotiated compromise since October.
On December 29, the Commission claimed EU companies could benefit from the act’s commercial clean vehicle credit scheme, but more is needed, Mr Dombrovskis said.
“We need to work on removing key trade irritants,” he said.
“There is still some time to have those discussions and have satisfactory outcomes."
Ms Tai said that the EU and US needed to work together to build a “prosperous global order".
Before her meeting with Mr Dombrovskis, she said the US has placed the highest priority on addressing EU fears.
Both are due to head to the World Economic Forum in Davos.
As part of its response to the US act, Brussels is also working on relaxing its rules on subsidising green technology.
Speaking in Davos, European Commission President Ursula von der Leyen said the EU should “get ahead of the competition” for a share of a potential $650 billion clean-technology industry.
Ms von der Leyen told the WEF that the EU was facing “aggressive attempts” to lure industry to China and to the US.
“This is why we will propose to temporarily adapt our state aid rules to speed up and simplify: easier calculations, simpler procedures, accelerated approvals,” she said.
Ms von der Leyen’s Green Deal Industrial Plan will be discussed by the bloc’s 27 leaders during a summit in Brussels on February 9-10.
German Chancellor Olaf Scholz told Bloomberg he was convinced a trade war with the US could be avoided.
But some countries, including France, want much bigger subsidies for sectors such as hydrogen, electric batteries, solar panels and semiconductors.
Because of the Covid-19 pandemic since 2020 and Russia's war in Ukraine since February, the EU has already temporarily loosened subsidy regulations to help industries survive.
Germany and France — the two largest European economies — have been the major beneficiaries.
Of the €672 billion ($727.5 billion) in EU aid approved to help member states deal with the effects of the war in Ukraine, 53 per cent was for Germany and 24 per cent for France.
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
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- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
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Zayed Sustainability Prize
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Ovo's tips to find extra heat
- Open your curtains when it’s sunny
- Keep your oven open after cooking
- Have a cuddle with pets and loved ones to help stay cosy
- Eat ginger but avoid chilli as it makes you sweat
- Put on extra layers
- Do a few star jumps
- Avoid alcohol
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
Fresh faces in UAE side
Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.
Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.
Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.
Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.
More from Rashmee Roshan Lall
MATCH INFO
Serie A
Juventus v Fiorentina, Saturday, 8pm (UAE)
Match is on BeIN Sports
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
THE BIO:
Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
Favourite exercise: Bench press
Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
Role model: Any good man
Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
The%20specs
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Fatherland
Kele Okereke
(BMG)
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
