EU's Gentiloni: Very good partnership with the U.S. but we must support our competitiveness

FILE PHOTO: European Economic Commissioner Paolo Gentiloni addresses a news conference on the EU Commission forecasts for economic growth, inflation, unemployment, debt and deficits for the 27 EU countries for 2023 and 2024, in Brussels, Belgium November 11, 2022. REUTERS/Johanna Geron

BRUSSELS (Reuters) - The partnership between the European Union and the United States is "very good", said European Commissioner for Economy Paolo Gentiloni on Tuesday but he added that the EU must strengthen its competitiveness in the wake of Washington's "Inflation Reduction Act" (IRA).

"We have to strengthen our competitiveness and we have to do so by one side streamlining our state aid rules (...) and also in parallel by funding common projects", he told reporters ahead of an Ecofin meeting.