- Write by:
-
Saturday, October 21, 2023 - 13:34:33
-
183 Visit
-
Print
Mining News Pro - The European Union and the United States could reach a deal on critical minerals over the coming weeks or months despite their failure to agree an accord on steel and aluminum, French Trade Minister Olivier Becht said on Friday.
US and EU trade negotiators had hoped to agree on how to end Trump-era metals tariffs and to lessen the impact of the US Inflation Reduction Act (IRA) by Friday in time for a meeting between US President Joe Biden’s and top EU officials.
The meeting is now expected to be dominated by the crisis in the Middle East.
“It’s clearly a disappointment that we could not advance more quickly with our American friends. The discussions were intense and I hope they will restart as soon as possible,” Becht said before an EU ministers’ meeting on trade in Valencia, Spain.
He said, however, he expected there would be an agreement “in the next weeks, in the next months” so that critical minerals used in electric vehicle batteries sourced from Europe would be eligible for some of the IRA’s consumer tax breaks.
“It’s in both the interest of Europe and the United States to have this agreement,” Becht said.
The United States has suspended import tariffs on EU steel and aluminum imposed by then-President Donald Trump in 2018, but on condition both sides agree measures to address overcapacity in non-market economies such as China, and promote greener steel.
They had set an end-October deadline. Negotiators now target a deal by the end of the year.
But the sides are apart as Washington wants the EU to apply the metal tariffs to imports from China and Brussels has said it cannot not do so before a year-long investigation to comply with World Trade Organization rules.
Short Link:
https://www.miningnews.ir/En/News/627556
Canadian miner Gold Reserve said on Thursday it has dropped out of a US court-organized bidding for shares in a parent ...
Saudi Arabia aims to gain control of Bahrain’s aluminum smelter, furthering its plan for mining and metals to become a ...
The German government is launching a €1 billion ($1.1 billion) fund for investment in raw materials as it seeks to limit ...
Plans for two new nickel trading platforms to challenge the London Metal Exchange (LME) have been blown off course by ...
Britain on Wednesday signed a memorandum of understanding to collaborate on critical minerals with Indonesia, home to ...
The US national security panel reviewing Nippon Steel’s $14.9 billion bid for US Steel let the companies refile their ...
US Steel CEO David Burritt said on Tuesday he was confident Nippon Steel’s $14.9 billion bid for his company would ...
Gold may face a minor, near-term setback if the Federal Reserve opts for just a 25-basis-point cut this week, but the ...
The US national security panel reviewing Nippon Steel’s $14.9 billion bid for US Steel let the companies refile their ...
No comments have been posted yet ...