Yellen discusses Inflation Reduction Act with EU

Janet Yellen, US Treasury Secretary

© APA | Janet Yellen, US Treasury Secretary

# 03 March 2023 00:11 (UTC +04:00)

United States Treasury Department revealed on Thursday that US Treasury Secretary Janet Yellen and European Commission Executive Vice President Valdis Dombrovskis discussed Washington's implementation of the Inflation Reduction Act, APA reports citing Teletrader.

The two officials also pointed out "the need to stimulate innovation, development, and deployment of green energy on both sides of the Atlantic."

The Inflation Reduction Act, which was, aside from other provisions, supposedly meant to help boost US domestic production of electric vehicles, has caused criticism primarily among US allies that see the financial incentives provided by the law as discriminatory against other countries.

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