EU-US Talks Fail to Reach Agreement on Critical Minerals – Vow to Press On

by | 31. Jan 2024 - 09:00 | Politics

Fifth meeting of the Trade and Technology Council in Washington, D.C., the main forum for cooperation on transatlantic trade and technology issues.

In 2021, EU and U.S. representatives initiated the Trade and Technology Council (TTC) to strengthen and steer transatlantic cooperation on trade and global challenges. Yesterday, the TTC held its fifth meeting in Washington, D.C. Topics of the meeting were, among other fields, artificial intelligence, secure supply chains, and the green transition, according to a press statement by the EU. However, the representatives failed to reach an agreement on critical minerals needed for battery production, according to Reuters. The news agency quotes European Commission Executive Vice President Valdis Dombrovskis, who sees “outstanding issues” on the European side, especially regarding green energy subsidies under the U.S. Inflation Reduction Act (IRA). An agreement would have provided European carmakers access to electric vehicle tax credits under the IRA, making them more competitive. Dombrovskis, however, vowed to press on: “We are willing to continue this engagement and eventually a comprehensive agreement.” The representatives agreed to hold a sixth meeting in April in Belgium.

The TTC will hold a stakeholder event on Crafting the Transatlantic Green Marketplace later today to allow members to discuss the topics further and present views and proposals. The event will also hold a series of workshops on the green energy transition, solar supply chains, and permanent magnets, among others.

Photo: iStock/SurkovDimitri

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