Washington: President Joe Biden and top European Union official Ursula von der Leyen announced on Friday that they have made progress in resolving the transatlantic trade dispute and reiterated their commitment to support Ukraine in its conflict with Russia.
After talks in the Oval Office, the two leaders announced that talks would begin to provide US market access to EU producers of essential minerals as part of Biden's famous initiative to support climate-friendly industries .
They also pledged to work together more generally as the US and EU economies move increasingly into electric vehicle and other green sectors.
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Over the past year, Biden and European Union Commission President von der Leyen worked together to deliver an unprecedented response to Russia's invasion of Ukraine. According to Biden, the coalition ushered in "a new era" in supporting Ukraine.
Additionally, they later claimed in a joint statement that although Russian President Vladimir Putin "thought he would divide us, we are more united than ever. No matter how long it takes, we will continue our unwavering support for Ukraine". I stand as one.
The historic Inflation Reduction Act (IRA), a government spending spree that supports US manufacturing in climate-friendly technologies, is causing tensions in Europe though.
The European Union is developing its own set of incentives, such as the Green Deal industrial scheme, to boost the emerging sector amid concerns in the EU that the "Made in America" condition of subsidies could lead to European-based energy and auto Will damage areas.
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In their joint statement, Biden and von der Leyen claimed to have made progress toward reaching an agreement to begin discussions about possible exemptions for European producers looking to export the critical mineral for electric vehicle batteries. .
Today, we decided to focus on delivering critical raw materials to the US market as if they were sourced from the US market.
These ingredients are sourced or processed in the European Union. After meeting Biden, Von der Leyen told reporters, "We will work on an agreement."
According to their statement, "Both sides will take steps to avoid any disruption to transatlantic trade and investment flows that may arise from their respective incentives. To maximize our incentives, we will work to prevent zero-sum competition." are working.
How to respond to China's increasingly assertive trade and foreign policy is another challenging area. According to the White House, "the challenges presented by the People's Republic of China" were a major topic of discussion.
Washington is pressing European capitals to oppose Beijing more forcefully, diplomatically and economically. But because the EU wants to keep relations with China cordial, there is some disagreement among the transatlantic allies about how to proceed.
According to Elvira Fabry, an analyst at the Paris-based Institut Jacques Delors, the White House meeting was an opportunity for von der Leyen to demonstrate the EU's willingness to cooperate with Washington, "but not in the role of follower, especially when It comes down to China."
According to the statement, the European position is based on Beijing's desire to maintain its position. However, the US official stressed unity between Brussels and Washington regarding the overall perspective of the China challenge.
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He stressed that the US and Europe have never been more aligned and predicted that the two leaders would stress the need to boost the security of their economies in response to specific economic security threats from China. Biden and von der Leyen only briefly mentioned China in their joint statement.