U.S.’ Inflation Reduction Act of 2022 hurts European allies

Cartoon by Tan Xiguang

The Inflation Reduction Act of 2022 unveiled by the U.S. has drawn strong dissatisfaction from European countries. The Act uses inflation reduction as an excuse, but is actually full of “America First” arrogance and shows that the U.S. is pursuing protectionism.

Analysts pointed out that the Act aims to encourage American and foreign enterprises to move their production bases to U.S. soil and help American enterprises gain competitive advantages in a way that hurts industry in Europe.

The U.S. says Europe is its important ally. However, the country has no qualms about hurting the interests of Europe, which exposes its selfishness.

The Act shows the U.S. is safeguarding its own interests without considering those of other countries, even those of its so-called allies and partners. It is another vivid example of the “America First” route and Washington’s hegemonic mentality.