Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.
The EU is set to renew its call for bolstering clean technologies in the face of increased global competition. But the Commission today will offer few details on its assessment of US President Joe Biden’s multi-billion dollar green subsidies plan, given it’s still early days for the package, we’re told. The bloc’s executive arm will be very prudent about estimating the impact of the US subsidies on European industry, as factors including energy prices, inflation, Russia’s invasion of Ukraine and Chinese competition also play a role. Expect the Commission to recall its efforts to minimize the risk of disinvestment in the EU and the loss of competitiveness, amid concerns on this side of the Atlantic.