US, EU Held Constructive Talks On Trade Concerns Over Inflation Reduction Act - Official

WASHINGTON (UrduPoint News / Sputnik - 29th November, 2022) The United States and European Union officials held several constructive talks this month to properly address the EU's trade concerns with the US legislation known as the Inflation Reduction Act (IRA), a senior US administration official said during a conference call.

"The task force has already met several times this month, and we expect these productive conversations to continue," the US official said on Monday during a call previewing French President Emmanuel Macron's visit to the White House this week. "I think it's been a very constructive set of conversations (via US-EU task force) that, you know, is ongoing, between us and our partners in the in the EU.

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The United States is committed to helping its EU allies better understand the IRA, the US official said.

The European Union deems the act "discriminatory" toward goods imported into the United States. Macron called the US legislation unfriendly and non-compliant with the World Trade Organization's provisions. EU countries are concerned the legislation may divert investments from Europe and could possibly spark a trade war between the United States and its European partners, according to media reports.