US-EU Seek Deal on Minerals Used in EVs in Race for Green Investments
- Biden met with the European Commission president in Washington
- The EU has been critical of Biden’s Inflation Reduction Act
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The US and European Union are seeking a preliminary agreement on the supply of so-called critical minerals used in electric vehicles, a step toward Washington’s efforts to reduce the global reliance on China for materials necessary for green-energy technologies.
The agreement, if finalized, also has a shorter-term benefit of defusing a trade dispute between the US and Europe by allowing EU companies access to some of benefits included in President Joe Biden’s massive climate-subsidy plan.