EU Must Avoid ‘Subsidy Race’ With U.S.

The European Union must avoid a subsidy race with the U.S., Germany's finance minister has said. "I'm concerned that some policymakers in the EU tend to follow the U.S. to subsidize almost everything, but we have to avoid a subsidy race," Christian Lindner said at a panel discussion at the World Economic Forum in Davos, Switzerland. The EU wouldn't be able to afford it, he said, adding that he is curious if the next administration in the U.S. could continue to support its economy in such a way.