Biden Suggests IRA May Be Modified To Ease European Concerns ​

President Biden has indicated to reporters, during a joint White House presser with French President Emmanuel Macron, that the Inflation Reduction Act may be modified, after criticism from European allies that the legislation violates WTO principles.

• Biden: "The US makes no apology for the Inflation Reduction Act but big bills will have glitches."
• Biden: "[IRA] was never intended to exclude folks who cooperate with us. The intention was to make sure that we were no longer in a position, where there was a pandemic in Asia, or China decided they no wanted to sell us computer chips. My point is: we are back in business, Europe is back in business and we're going to continue creating manufacturing jobs but not at the expense of Europe."
• Biden's comments signal a major climbdown for the administration after serious opposition to the bill from key allies - France, Germany, and South Korea.