European companies are sweltering from the heat of persistently high natural gas prices. The Russia-Ukraine war led to disruptions of oil and gas supplies, and resultant price spikes seem to have no end. This has propelled European companies to turn toward other countries to continue with their manufacturing ambitions. The U.S. remains one of the prime beneficiaries of this shift. The government has recently implemented the Inflation Reduction Act (IRA), which includes subsidies and tax breaks for clean energy. The American authorities also favor and incentivize companies involved in domestic manufacturing projects. These are attracting battered European companies to expand their manufacturing bases in the U.S.
https://www.tipranks.com/news/article/european-companies-lean-toward-the-u-s-due-to-high-energy-prices?utm_source=advfn.com&utm_medium=referral
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