US and EU initiate steps to resolve Inflation Reduction Act dispute

Biden ursula

Banca March | As part of today’s meeting between Von der Leyen and Biden at the White House, the two leaders are to discuss a plan to reduce dependence on China, including an agreement on the extraction of critical minerals such as lithium and nickel. While the arrangement would not be a free trade agreement, it would allow the EU to meet the standards required to qualify for Inflation Reduction Act subsidies, which require minerals to be mined in the United States or countries with which there is a trade agreement.

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