Monday’s EU-US trade talks overshadowed by tax concerns on climate measure

COLLEGE PARK, Md. – Top European Union officials intend to complain loudly to their U.S. counterparts at a trade meeting on Monday about the bloc’s electric vehicles being cut off from tax credits in U.S. President Joe Biden’s signature climate law.

The U.S.-EU Trade and Technology Council (TTC), a year-old transatlantic forum for dialogue, focused in its first two meetings on regulatory co-operation and presenting a united front against China’s non-market economic practices.

But the 27-country bloc fears that the $430-billion Inflation Reduction Act with its generous tax credits of $7,500 for Tesla, Ford and other North American-made EVs, will significantly damage European automak…

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