The UK and US will “work through” concerns about Joe Biden’s multibillion-dollar package of green subsidies, Rishi Sunak revealed ahead of talks with the US president today in San Diego.
The Prime Minister welcomed the Biden administration’s commitment to tackling climate change, but confirmed the UK had already raised concerns about the measures in the Inflation Reduction Act.
Sunak told reporters: “We have raised concerns with the US about the Inflation Reduction Act and we will work through with them as they think about how best to implement it.
The $430bn (£357bn) package is an attempt to make the economy environmentally friendly with tax credits for green technology.
It is the largest spending commitment towards renewables ever signed into law.
However it has strained relations with European economies, which have been frozen out of US markets – with the EU set to announce its own plans to compete with the … Read more