Why the EU’s green industry plan could escalate the global subsidy fight

The European Commission unveiled the Green Deal Industrial Plan last week in hopes of countering America’s Inflation Reduction Act amid fears the IRA could drive business across the Atlantic to the United States. However, the plan from the European Commission already faces major criticisms, including that Europe might be waging a subsidy race it can’t win. POLITICO Europe’s Sam Stolton breaks down Europe’s plan. Plus, the Treasury Department settles on a standard for EV tax credits that automakers were campaigning for. Josh Siegel is an energy reporter for POLITICO. Samuel Stolton is a competition and tech reporter for POLITICO Europe. Nirmal Mulaikal is a POLITICO audio host-producer. Raghu Manavalan is a senior editor for POLITICO audio. Jenny Ament is the executive producer of POLITICO’s audio department.