The U.S. Treasury Department is expected to give guidance on Friday on tax breaks for consumers buying electric vehicles and Europe's auto sector and policymakers will be closely watching to assess the consequences for European industry.
The Treasury is not expected to specify vehicle models but merely lay out the subsidy criteria.
The trade in car parts in particular is often intra-firm or related party trade, reflecting integrated transatlantic supply chains. BusinessEurope confederation deputy director general and trade expert Luisa Santos said it was important to see if any of the IRA's discriminatory elements had been addressed, to confirm leased vehicles would be exempt from local content requirements and to see if there would be any transition periods.
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