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US and EU to negotiate to agree on critical minerals

U.S. President Joe Biden and European Union (EU) Commission President Ursula von der Leyen on the tax deduction for electric vehicles under the U.S. Inflation Reduction Act of critical minerals mined or processed in Europe.

US and EU to negotiate to agree on critical minerals

U.S. President Joe Biden and European Union (EU) Commission President Ursula von der Leyen will begin negotiations to reach an agreement on critical minerals to include critical minerals mined or processed in Europe in the U.S. tax relief requirements for electric vehicles under the Inflation Reduction Act. reported.

The two leaders issued a joint statement after their meeting.

In the statement, it was noted that the USA and the EU have taken new steps to deepen their economic relations while building the clean energy economies of the future and addressing common economic and national security issues.

Emphasizing that the USA and the EU are determined to address the climate crisis, accelerate the transition to a global clean energy economy and create resilient, safe and diversified clean energy supply chains, it was stated that cooperation on the diversification of critical mineral and battery supply chains will be deepened.

The statement said it intends to begin negotiations immediately for a targeted critical minerals agreement to ensure that critical minerals mined or processed in the EU are included in the requirements of the US Inflation Reduction Act's section on tax relief for electric vehicles.

In the statement, it was also stated that the Clean Energy Incentives Dialogue was initiated to coordinate the relevant incentive programs in a way that mutually strengthens them, and it was noted that steps will be taken to prevent disruptions in trade and investment flows that may arise from the incentives provided by both parties.

In the statement, it was emphasized that we are determined to reach an ambitious conclusion by October in the negotiations on global regulations regarding sustainable steel and aluminum.

Support to Ukraine

Pointing out that the US and the EU have acted together strongly and implemented comprehensive sanctions against Russia's war in Ukraine, the statement said, "(Russian President Vladimir) Putin thought he would divide us, but we are more united than ever before." statement was included.

In the statement, it was emphasized that the support given to Ukraine will continue no matter how long it lasts.

Recalling that the US and the European Commission have launched a new partnership to rapidly reduce Europe's dependence on Russia's fossil fuels and accelerate the transition to a green economy, this partnership has exceeded the targets and the US will supply Europe with twice the amount of liquefied natural gas (LNG) expected. provided is indicated.

In the statement, it was stated that the leaders will continue to work together for energy security and sustainability in Europe, and it was stated that work will continue for Ukraine to be more integrated into the European energy market and to support energy security.

The goal to develop transatlantic cooperation

In the statement, it was stated that the USA and the EU are trying to strengthen security and economic resilience by developing transatlantic cooperation and that work will continue through the US-EU Trade and Technology Council and the G7.

In the statement, it was stated that the USA and the EU will also work together against the emerging difficulties in economic pressure, weaponization of economic dependencies, and non-market policies.

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