The European Union (EU)’s opposition to the US Inflation Reduction Act (IRA) has become a serious trade dispute between the two sides of the Atlantic. Although the US affirmed that its support for green industry would not aim to harm the EU, the tensions related to this issue are at risk of causing a significant rift in the alliance.

Despite dealing with a serious gas supply crisis, the European Union (EU) member states are still struggling in finding solutions to cool down gas prices, which have been making a strong impact on the continent’s economy. EU members are still deeply divided on the proposed gas price ceiling.