<p>EU chief Ursula von der Leyen said Sunday the bloc must act to address "distortions" created by Washington's $430-billion plan to spur climate-friendly technologies in the United States.</p>.<p>EU countries have poured criticism on Washington's landmark Inflation Reduction Act (IRA), seeing it as anti-competitive and a threat to European jobs, especially in the energy and auto sectors.</p>.<p>The bloc must "take action to rebalance the playing field where the IRA or other measures create distortions", von der Leyen said in a speech at the College of Europe in the Belgian city of Bruges.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/economy-business/eu-agrees-to-impose-price-cap-on-russian-crude-1167960.html" target="_blank">EU agrees to impose price cap on Russian crude</a></strong></p>.<p>The act, designed to accelerate the US transition to a low-carbon economy, contains around $370 billion in subsidies for green energy as well as tax cuts for US-made electric cars and batteries.</p>.<p>Von der Leyen said the EU had to work with the US "to address some of the most concerning aspects of the law".</p>.<p>But she said that Brussels must also "adjust" its own rules to facilitate public investment in the environmental transition and "re-assess the need for further European funding of the transition".</p>.<p>French President Emmanuel Macron seized an opportunity on a state visit to Washington for talks with US President Joe Biden last week to air deep grievances over US-EU trade.</p>.<p>The White House touts the IRA as a groundbreaking effort to reignite US manufacturing and promote renewable technologies.</p>.<p>Commenting on the issue Sunday, French minister delegate for industry, Roland Lescure noted in a broadcast interview that "competition must be strong and fair -- we must coordinate to ensure we are on a level playing field.</p>.<p>Lescure added that US subsidies were distributed "a little more swiftly and effectively than ours."</p>.<p>By way of example, he said: "For an electric vehicle in the United States you have a $7,000 subsidy but it has to be American down to the circuitry.</p>.<p>"In France, you have 6,000 or 7,000 euros according to your wage and the vehicle can come from China."</p>
<p>EU chief Ursula von der Leyen said Sunday the bloc must act to address "distortions" created by Washington's $430-billion plan to spur climate-friendly technologies in the United States.</p>.<p>EU countries have poured criticism on Washington's landmark Inflation Reduction Act (IRA), seeing it as anti-competitive and a threat to European jobs, especially in the energy and auto sectors.</p>.<p>The bloc must "take action to rebalance the playing field where the IRA or other measures create distortions", von der Leyen said in a speech at the College of Europe in the Belgian city of Bruges.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/economy-business/eu-agrees-to-impose-price-cap-on-russian-crude-1167960.html" target="_blank">EU agrees to impose price cap on Russian crude</a></strong></p>.<p>The act, designed to accelerate the US transition to a low-carbon economy, contains around $370 billion in subsidies for green energy as well as tax cuts for US-made electric cars and batteries.</p>.<p>Von der Leyen said the EU had to work with the US "to address some of the most concerning aspects of the law".</p>.<p>But she said that Brussels must also "adjust" its own rules to facilitate public investment in the environmental transition and "re-assess the need for further European funding of the transition".</p>.<p>French President Emmanuel Macron seized an opportunity on a state visit to Washington for talks with US President Joe Biden last week to air deep grievances over US-EU trade.</p>.<p>The White House touts the IRA as a groundbreaking effort to reignite US manufacturing and promote renewable technologies.</p>.<p>Commenting on the issue Sunday, French minister delegate for industry, Roland Lescure noted in a broadcast interview that "competition must be strong and fair -- we must coordinate to ensure we are on a level playing field.</p>.<p>Lescure added that US subsidies were distributed "a little more swiftly and effectively than ours."</p>.<p>By way of example, he said: "For an electric vehicle in the United States you have a $7,000 subsidy but it has to be American down to the circuitry.</p>.<p>"In France, you have 6,000 or 7,000 euros according to your wage and the vehicle can come from China."</p>