Monday, March 20, 2023

America and EU will seek mineral agreement amid trade dispute, talks on subsidy – Usky News

Washington: Amid trade friction, President Joe Biden and the European Commission President ursula von der United States officials said Leyen held talks on Friday that could lead to talks on key minerals used for electric vehicles and government subsidies.
Biden and von der Leyen are to meet at the White House at 2 p.m. EST (1900 GMT), against a backdrop of European complaints that subsidies, including the US Inflation Reduction Act, will drive investment away from Europe and hurt their economies.
Senior Biden administration officials who briefed reporters ahead of the talks said they expected the two leaders to agree to open talks on a key minerals agreement and “subsidy incentive transparency” for electric vehicle batteries. An official said, ‚ÄúThis is a deal that really focuses on critical minerals for electric vehicle batteries and the battery supply chain. We would expect that this is a negotiation that is limited in scope and relevant to those critical minerals that meet those needs.” ,
Biden’s Inflation Reduction Act (IRA), a $430 billion bill that provides massive subsidies for US-made products and aims to address the climate crisis and promote renewable energy, has inspired European anger Is.
The official said the purpose of negotiations on subsidies would be to ensure that the United States and Europe are not working at cross purposes.
during the December visit by the President of France Emmanuel Macron To the White House, Biden said the bill, intended to boost the US renewable energy and semiconductor industry, had “flaws” that could be addressed.
The European Commission last month introduced its Green Deal industrial plan in response to the US measure, increasing the level of state aid to help Europe compete as a manufacturing center for clean tech products.
Officials said the two leaders will also discuss ways to strengthen cooperation to impose sanctions on “third party elements” that violate sanctions on Russia over the Ukraine war.


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