The European Commission’s senior officials are crafting a response to the U.S. Inflation Reduction Act, as it becomes more apparent that Washington is unlikely to adopt proposed amendments to the legislation to assuage European concerns. In a speech earlier this week at a gathering of the World Economic Forum in Davos, Commission President Ursula von der Leyen laid out some of the steps the union will take in order to keep European industry competitive in the race to attract green technology and climate-related investment.
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