Belgian Foreign minister warns Antony Blinken about Inflation Reduction Act

On Wednesday, Belgian Foreign minister Hadja Lahbib (MR) met with US Secretary of State Antony Blinken in Bucharest. She immediately told him that the 'Inflation Reduction Act', an expanded US subsidy programme, could encourage a possible relocation of European companies to the United States.

Belgian Foreign minister Hadja Lahbib, also responsible for foreign trade, took part in her first NATO meeting in Bucharest. The meeting in the Romanian capital focused on the war between Russia and Ukraine and relations with China.

On the sidelines of this event, Lahbib also met US Secretary of State Antony Blinken. She spoke about her recent visit to Ukraine and possible longer-term solutions. Lahbib further thanked her US counterpart for the additional gas supplies.

"I thanked the United States for increasing gas supplies to Europe. But I also stressed that the consequences of their 'Inflation Reduction Act' would be very negative for Europe, with the risk of our industries relocating to the United States," Lahbib told Le Soir.

The 'Inflation Reduction Act' is a programme seen by Europeans as protectionist, subsidising green transition in the United States with subsidies reserved for US companies. A task force will examine these concerns. "We should not be naive," Lahbib further stressed. "If this worries us, it opens the door to investors like China."



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