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European Commission President Ursula von der Leyen speaks at a press conference at EU headquarters in Brussels, Belgium, December 12, 2022. /CFP
EU leaders are meeting in Brussels on Thursday to focus on a trade dispute with key ally the United States that threatens to trigger a subsidy race between the two economic superpowers.
European Commission chief Ursula von der Leyen sent a letter ahead of the summit, urging leaders to back a plan to compete with billions of dollars in new U.S. subsidies and tax cuts for car makers.
Brussels views the "Buy American" condition for purchasers of electric vehicles mainly made in the United States as discriminatory against European car manufacturers.
Brussels is also concerned that Washington's plan will drain investment from the EU to the United States. It argues that America's misconduct violates World Trade Organization rules.
Von der Leyen said the e-vehicle subsidies contained in a broader U.S. Inflation Reduction Act (IRA) "risk un-levelling the playing field and discriminating against European companies".
The IRA contains $430 billion worth of tax breaks for the country's green energy.
The EU voiced concern that Washington is working up a trade advantage over it while it was going through an energy crunch, economic headwinds and was still recovering from the coronavirus pandemic.
(With input from AFP, Reuters)
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