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US Inflation Reduction Act’s macroeconomic effect on EU is ‘limited’ so far, report says

( October 25, 2023, 15:49 GMT | Official Statement) -- MLex Summary: The macroeconomic effect of the US Inflation Reduction Act on the EU “has so far been limited,” reads the European Commission’s preliminary assessment of the EU’s response to the US tax incentives program and its impact on the bloc. The IRA is an economic package that entered into force in January, and is worth hundreds of billions of dollars, including tax credits and incentives for US-made products such as green hydrogen, electric vehicles and batteries to reduce greenhouse-gas emissions....

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