EU, US Working On Deal To Make EV Minerals Eligible For Tax Credits -EU Official – By Andrea Shalal and David Shepardson (IB Times) / Mar 3, 2023
The United States and European Union are working toward agreement in principle on a deal to make European minerals eligible for tax credits, a senior EU official said Friday.
The $430 billion U.S. Inflation Reduction Act passed in August requires rising percentages of battery minerals to come from the United States or a Free Trade Agreement (FTA) partner.
The EU official said an agreement could come as early as next week, in time for a visit by European Commission President Ursula von der Leyen to Washington, on a deal that would give the EU “free trade agreement-like status.”
White House press secretary Karine Jean-Pierre declined to say if a high-level deal that would provide free trade-like status to the EU could be reached before von der Leyen’s visit, removing an irritant in U.S.-EU ties, but underscored Washington’s desire to maintain a strong working relationship with the EU.
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