Xinhua | Updated: 2023-06-08 09:01US President Joe Biden holds a cabinet meeting in the Cabinet Room of the White House in Washington, US, June 6, 2023. [Photo/Agencies]NEW YORK - Germany, France, Britain and other European countries feared that the United States will hurt them by luring away much of the new investments in electric car and battery factories with subsidies, reported The New York Times last week. The United States has provoked a "massive subsidy race", Cecilia Malmstrom, a former European trade commissioner, said during a panel discussion in April at the Peterson Institute for International Economics in Washington. She called on leaders to "jointly invest in the green transition and not compete against each other". "They have noted that the government and private money going into electric cars and batteries would lower prices for car buyers and put more emission-free vehicles on the road."

Source: International New York Times June 08, 2023 13:00 UTC