EU unveils plan to counter US green subsidies

(ANSA-AFP) - BRUSSELS, FEB 1 - The EU on Wednesday unveiled proposals to counter the threat to European industry from US green subsidies and unfair competition from China, with measures including a controversial expansion of state aid. The bloc is racing to compete with the United States and China to avoid businesses relocating to Asia or North America where energy costs are cheaper, but there has been division among EU member states on how to respond. European Commission President Ursula von der Leyen outlined the bloc's proposals but said there would be no immediate new EU funding. "At the moment being we need to work with what we have right now. And focus it on the clean tech industry," she said. The majority of the EU's response involves repackaging already existing funds, a stop-gap measure that has earned much criticism. (ANSA-AFP).

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