Germany’s Habeck optimistic trade dispute with U.S. can be avoided

Germany’s Habeck optimistic trade dispute with U.S. can be avoided By Reuters

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Economy 21 minutes ago (Feb 02, 2023 05:57AM ET)

(C) Reuters. FILE PHOTO: German Economy and Climate Minister Robert Habeck attends the weekly cabinet meeting in Berlin, Germany February 1, 2023. REUTERS/Michele Tantussi/File Photo

BERLIN (Reuters) – German Economy Minister Robert Habeck expressed optimism on Thursday that a trade dispute with the United States over subsidies can be avoided.

“I think we have a good chance of avoiding a trade conflict,” Habeck said in Berlin before the start of a trip to Sweden, adding that Europe and the United States shared common values and goals.

“Actually, we should manage to build a ‘green bridge’ across the Atlantic, especially in the industrial sector,” he said, adding that the European Commission and EU members Germany, France and Sweden were making such efforts.

Many EU leaders are worried the local content requirements of $369 billion of green subsidies in the U.S. Inflation Reduction Act will encourage companies to relocate, making the United States a leader in green tech at Europe’s expense.

Germany’s Habeck optimistic trade dispute with U.S. can be avoided

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