Biden ignores Europeans and a trade war between the US and EU is getting closer, media warns.
Europe is concerned about the US package of subsidies and tax breaks to support "green" companies in the US.
Sputnik - The newspaper Politico warned that a trade war between the US and the EU is very close to happening as the US Inflation Control Act approaches its entry into force.
The publication cites that Europe is concerned about the US$369 billion (R$1,9 trillion) package of subsidies and tax breaks to support "green" companies in the US, which is scheduled to take effect on January 1st.
In turn, Europeans believe that Washington's scheme will encourage companies to withdraw their investments from Europe, as well as encourage customers to buy American products.
According to the newspaper, if this disagreement gets out of control, it will result in a trade war, and despite European efforts to seek a truce with the American president, it is unlikely to be effective.
The chairman of the European Parliament's Trade Committee, Bernd Lange, stated that if there is no agreement between the two parties, the EU will file a complaint with the World Trade Organization against the US and impose punitive tariffs.
It is worth noting that German authorities recently requested a new trade agreement between Europeans and Americans from Washington to end the disagreements; however, the proposal was rejected by Joe Biden.
Subscribe to 247, Support via Pix, Subscribe to TV 247, in the channel Cuts 247 and watch: