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.
(Reporting by Markus Wacket, Writing by Friederike Heine; Editing by Paul Carrel)