U.S. Treasury Secretary Janet Yellen, from November 2022; Credit: REUTERS/Altaf Hussain

FORT WORTH, Texas (Reuters) - On Thursday 8 December 2022, US Treasury Secretary Janet Yellen said the Biden administration was listening to concerns raised by European allies over the US Inflation Reduction Act, a $430 billion green energy subsidy package.

Many European Union countries fear their companies will be unfairly disadvantaged by the subsidies contained in the new law.

"We will look at what is legal and what is feasible," Yellen told reporters.