Germany’s Scholz welcomes Biden’s openness to tweaking U.S. inflation act

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G7 leaders summit

BERLIN (Reuters) – German Chancellor Olaf Scholz welcomed comments by U.S. President Joe Biden that he is open to tweaking the Inflation Reduction Act that has raised fears in Europe of losing investment.

A customs agreement for industry between the United States and European Union is better than a subsidy race, added the spokesperson at a regular government news conference on Friday.

(Reporting by Andreas Rinke, Writing by Miranda Murray, Editing by Rachel More)

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