The US Inflation Reduction Act — a package that includes an ambitious tax credit to encourage Americans to buy electric vehicles — is raising alarms in the European Union, a bloc known for its leadership on climate change policy, but also car manufacturing. German and French officials warned on Wednesday that US policies offering subsidies for the benefit of the American electric vehicle industry would lead the two economic powerhouses into direct competition. Host Marco Werman spoke with David Kleimann, an economist and senior fellow at the Brussels-based policy think tank Bruegel.
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