EU to adapt state aid schemes in response to U.S. subsidy package - von der Leyen

The EU will adapt its own state aid rules to prevent an exodus of investment triggered by a new U.S. green energy subsidy package, the bloc's chief executive said on Sunday.

"Competition is good... but this competition must respect a level playing field," European Commission President Ursula von der Leyen said in a speech in the Belgian city of Bruges.

"The (U.S.) Inflation Reduction Act should make us reflect on how we can improve our state aid frameworks and adapt them to a new global environment," she added.