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U.S., EU Make Nice Over Clean Energy Industrial Policy

March 14, 2023

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President Biden last week met with European Commission President Ursula von der Leyen in the Oval Office last week, and how about that: There appears to be a thaw in a frosty relationship between the U.S. and the European Union which had heavily criticized Washington’s Inflation Reduction Act (IRA) for excluding European-made electric vehicles (EVs) from qualifying for its tax credits.

The Biden administration and the EU are beginning “talks to bolster critical minerals supply chains between the two allies, with an eye toward allowing EU companies to take advantage of key electric vehicle tax credits in the U.S. climate law,” reports Politico, and the EU is looking for ways to allow American-made goods to be made eligible for its own European Green Deal, says German broadcaster DW.

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