Yellen says U.S. listening to Europe's concerns over new climate law

FILE PHOTO: U.S. Treasury Secretary Janet Yellen looks on after an interview with Reuters in New Delhi, India, November 11, 2022. REUTERS/Altaf Hussain/File Photo

FORT WORTH, Texas (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday said the Biden administration was listening to concerns raised by European allies over the U.S. 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.

(Reporting by Andrea Shalal; writing by Kanishka Singh; editing by Tim Ahmann)