BRUSSELS – Pressure from the US’ Inflation Reduction Act (IRA), entailing major incoming tax cuts and green technology subsidies requires more immediate action on the part of the EU to avoid capital flight and industrial relocation. Industries associated with climate change mitigation with various green tech profiles are now reconsidering business location – and the EU must act accordingly to remain an attractive market, shows a blueprint presented by EU Commission President Ursula von der Leyen Wednesday afternoon.