Aid program jeopardizes trade: Habeck wants to reduce tensions with the USA

A US anti-inflation bailout program jeopardizes trade relations with the EU.

Aid program jeopardizes trade: Habeck wants to reduce tensions with the USA

A US anti-inflation bailout program jeopardizes trade relations with the EU. The condition for the payment of subsidies is therefore production in the USA. Federal Minister of Economics Habeck is concerned about the possible consequences of the program.

According to Federal Economics Minister Robert Habeck, the most recent tensions with the USA over trade policy must be resolved quickly. "There must be an agreement now - now means in a few weeks - otherwise Europe will be forced to take a different step," said the Green politician at the economic summit of the "Süddeutsche Zeitung" in Berlin. The EU must then ensure that there are equal competitive conditions again. That means, among other things, finding an answer to the fact that the USA prescribed a certain proportion of subsidies for products that had to be manufactured in the United States.

Habeck referred to the so-called Inflation Reduction Act of the USA - a 370 billion dollar aid program with which, among other things, renewable energies and industry are to be strengthened in the fight against climate change. However, this also includes clauses that the companies must invest and produce in the USA. This has alarmed the EU, which fears that European companies will also move their production overseas.

Federal Finance Minister Christian Lindner also identified restrictions on free trade as a result of the US aid program last week, but does not want to react to this with countermeasures. Because of new US government laws, he is concerned that there could be an even stronger formation of blocs in international trade, said the FDP leader.

However, the US measures should not automatically lead to retaliation. "The opposite would have to happen." Europe must seek even more talks with the government in Washington. Value partners should also be preferred trading partners. Fewer trade barriers and fewer subsidies would have to be negotiated. Because a trade war only brings losers.

"We have to close new trade relations," said Habeck. Of course, there will continue to be economic relations with China. "It is completely impossible for the German economy to say goodbye to it quickly." But Germany must not close its eyes. China wants to build strategic influence through investments in important sectors. This must be viewed more critically and, if in doubt, prohibited.

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