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President Joe Biden speaks about the Inflation Reduction Act of 2022 during a ceremony on the South Lawn of the White House in Washington, Tuesday, Sept. 13, 2022.
Image: Andrew Harnik/APImage: Andrew Harnik/AP

Inflation Reduction Act

The Inflation Reduction Act is a landmark US law which aims to curb inflation by reducing the deficit, lowering prescription drug prices, and investing into domestic energy production while promoting clean energy.

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All Content on this topic

European Council President Charles Michel speaks to journalists

Faced with China and US, EU warned to find competitive edge

The EU received a stark warning about economic competitiveness, but carving out a way forward will be difficult.
GlobalizationApril 18, 2024
German Economy Minister Robert Habeck placing his hands on a helmet

German industry: Can the backbone of the economy be saved?

Europe's biggest economy is facing a recession, with high energy costs a huge burden. Will subsidized electricity help?
BusinessNovember 1, 2023
Joe Biden looks worried

Subsidy race : Is the free market dead?

Rising inequality is calling free market ideals into question.
BusinessSeptember 14, 202316:27 min
Tesla electric cars

Can North America launch its own EV revolution?

As Chinese companies push deeper into the global EV market, the US wants to supercharge production — on its own terms.
BusinessAugust 23, 202311:35 min
Prime Minister Rishi Sunak of the United Kingdom and United States President Joe Biden participate in a news conference

UK-US: What's happened to their free trade deal?

It was meant to be the jewel in the Brexit crown, but Britain has, so far, failed to sign a free trade deal with the US.
BusinessJuly 8, 2023
Joe Biden, man stands in front of a US flag.

United States: Has Joe Biden kept his campaign promises?

Joe Biden is running for reelection in 2024. A look at the promises he has kept, and those he hasn't lived up to.
PoliticsApril 25, 2023
A US flag in front of an advertising poster for a Mercedes-Benz car.

Is German industry migrating to the US?

The Biden administration is luring companies with big subsidies. What will this mean for Germany as a business location?
BusinessMarch 18, 2023
US President Joe Biden meets with President of the European Commission Ursula von der Leyen in the Oval Office of the White House

EU, US to 'immediately' start work on green subsidies deal

US President Joe Biden and the EU's Ursula von der Leyen hail a breakthrough in talks on a trans-Atlantic trade dispute.
PoliticsMarch 10, 2023
Robert Habeck and Bruno Le Maire speak to reporters in Washington. February 7, 2023.

German, French ministers lobby US over green subsidy plans

Robert Habeck and Bruno Le Maire are in the US for talks on the Biden administration's Inflation Reduction Act.
PoliticsFebruary 7, 2023
Federal Reserve Chairman Jerome Powell at a press conference on February 1, 2023

US Fed raises interest rates by 0.25 points

The central bank appears to be slowing on its aggressive approach of hiking interest rates to tame soaring prices.
BusinessFebruary 1, 2023
A picture of Ursula von der Leyen

EU unveils green industry plan to counter US spending spree

The EU wants its businesses to cash in on the green transition, but does not look set to put new money on the table.
BusinessFebruary 1, 2023
From left, Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, European Commission Executive Vice President Margrethe Vestager and European Union Commission Executive Vice President Valdis Dombrovskis at the talks Monday

US sees 'momentum' in EU talks amid tensions over subsidies

Massive US subsidies for American companies have sparked concerns in Europe, as the EU views them as anti-competitive.
TradeDecember 6, 2022
European Commission President Ursula von der Leyen

EU chief says bloc must act over US subsidies plan

EU chief Ursula von der Leyen said the bloc should work with Washington amid a dispute over US subsidies.
BusinessDecember 4, 2022
German Financie Minister Christian Lindner speaking in Bonn on October 27, 2022

German finance minister warns of US trade war

Finance Minister Christian Lindner said Berlin can't ignore Washington's "enormously" protectionist policy for US firms.
BusinessDecember 3, 2022