EU warns Biden over potential trade war

Most of Europe is already dealing with a depressed economy and threats of widespread labor strikes. The war in Ukraine, combined with the self-inflicted energy crisis has created even more angst in many European nations. But now, European Union leaders are openly speaking out about another threat that they are facing and it’s coming from Washington, not Moscow. Several European leaders have expressed concerns and “disappointment” over the possibility that their economies will be further depressed (if not collapsed) as a result of Joe Biden’s “Inflation Reduction Act.” Any drive to put “America first,” in terms of manufacturing, particularly in the energy sector and the automotive and computer chip markets, means that Europe will be “second,” if not further down in the pecking order. One EU leader complained this week that they already have a shooting war on their doorstep and the last thing they need is a trade war with America. (Associated Press)Read More