Italy demanded the financial independence of the European Union from the United States

According to the report of Fars International News Agency, Italy’s Prime Minister Giorgia Meloni asked the European Union on Thursday to be more economically welcoming to Washington due to a new law in the United States that gives the country’s companies a competitive advantage over European companies.

Meloni also asked the European Union to create its own supply chains in response to the so-called “American Deflation Act”.

The Inflation Reduction Act is a bill that US President Joe Biden signed into law about four months ago. This law allocates subsidies to manufacturers of electric vehicles, batteries and power generation equipment that are made in the United States.

The heads of European countries have warned that this law could lead to a trade war between the allies on both sides of the Atlantic. A few weeks ago, French President Emmanuel Macron said that Europe should give a strong response to the “American deflationary law” in the coming months.

He emphasized that this should be done before the first quarter of 2023 and “European industries should be able to compete against American actions.”

Earlier, during his trip to Washington, Macron had warned that the protectionist policies of the United States in granting subsidies to American companies in the form of the aforementioned law will create a divide in the western countries.

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