Fin Min-Germany Does Not Want Subsidy Race w/US

Wires carrying comments from German Finance Minister Christian Lindner speaking alongside European Economy Commissioner Paolo Gentiloni. States that "Germany does not want to start a subsidy race with the US." Says there should be "trade diplomacy, not trade conflict."

• Comes as the EU seeks a response to the US' Inflation Reduction Act, which many in the EU see as providing an unfair advantage to US green tech firms over domestic industries due to substantial subsidies handed out.
• Germany remains hawkish on the prospect of new programmes to fund EU firms, stating that "We do not need new funding programmes in Europe, funds are there already." Adds on the subject of EU debt rule reform that "We have our doubts that the proposal of the European Commission will lead to a reliable path of debt reduction."
• Lindner: "To us, there is no economic need for a new Next Generation EU instrument. We also have Constitutional limits, and I suggest not to push this debate forward".