Germany's Habeck: must avoid green technology subsidy race with US

Europe must avoid a green technologies subsidy race with the United States but will have to respond to U.S. investment in the sector with a "European response that puts our strengths first", Germany's economy minister told WirtschaftsWoche.

"Green technologies in particular thrive best in fair competition; protectionism cripples innovation," Robert Habeck told the business magazine, with reference to the U.S. Inflation Reduction Act, in comments published on Friday.