President Biden meets with EU President to address trade and subsidy concerns
On Friday, President Joe Biden met with European Commission President Ursula von der Leyen at the White House in an effort to ease tensions between the US and Europe over trade and subsidy concerns.
The talks focused on the Inflation Reduction Act, which includes tax breaks for electric vehicle operations on US soil that the EU worries could draw investments away from their region.
The meeting followed a strong jobs report last month, which showed the nation adding 311,000 jobs in February, signaling that hiring remains brisk.
President Biden emphasized that jobs are about more than just a paycheck; they are also about dignity.
The talks between the two leaders come on the heels of President Biden’s $6.9 trillion budget proposal, which includes lower costs for families, protections for Social Security and Medicare, increased spending on defense, police, and border security, and a plan to cut $3 trillion from the federal deficit over the next decade.
The proposal also involves taxing the wealthiest Americans and reforming the tax code to ensure that no billionaire pays a lower tax rate than a teacher or a firefighter in the country.
However, the proposal is expected to face challenges, as Republicans are likely to demand spending cuts before discussing the budget and raising the debt ceiling.
Overall, President Biden’s meeting with the EU President was an effort to address trade and subsidy concerns, highlighting the importance of maintaining strong relationships with international partners.