Tai, EU Representative Talked Steel, EV Tax Credits in Meeting
After saying they were conscious of one year left on their self-imposed deadline, U.S. Trade Representative Katherine Tai and European Commission Executive Vice President Valdis Dombrovskis "agreed to increase the pace of discussions about the global steel arrangement," according to a readout of the Oct. 13 meeting provided by USTR. The EU and U.S. are working on a way to restrict access to their markets for steel that is higher in embedded greenhouse gas emissions, as well as protecting their markets from exports from countries creating non-economic overcapacity (see 2210130068).
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The readout also says the two "exchanged views on the electric vehicle provisions of the Inflation Reduction Act of 2022 and asked their teams to increase engagement on the issue. Ambassador Tai shared her view that seriously combating the climate crisis will require increased investments in clean energy technologies, as well as addressing supply chain and security vulnerabilities."