"We must adjust our rules to facilitate public investment in environmental transformation, and pan-European funding must also be re-evaluated," Von der Leyen declared while speaking at the College of Europe in the Belgian city of Bruges.
At the same time he assured that the EU will continue to work with the US to resolve differences in competition, as well as to ensure a level playing field for companies that have emerged since the passage of the new law.
The Inflation Reduction Act, signed in August by US President Joe Biden, provides some $369 billion in funding for US green technology and energy security.
In addition, the US directs $80 billion for tax enforcement from the Internal Revenue Service.
The EU has branded this step as discriminatory towards similar production imported from other countries, fearing that US subsidies will withdraw potential investment from the European continent.
In this context, the European Commissioner for the Internal Market, Thierry Breton, stated on November 7 that countermeasures were not ruled out if the US did not review its business support measures as stipulated in the Inflation Reduction Act.