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President Joe Biden and top EU official Ursula von der Leyen announced progress in defusing a transatlantic trade dispute Friday and renewed their commitment to back Ukraine against Russia.
In a limited, but concrete step, the two leaders announced after Oval Office talks that negotiations will begin on giving EU producers of critical minerals access to the US market under Biden’s signature program to encourage climate friendly industries.
They also pledged to coordinate generally as both US and EU economies pivot to the booming electric vehicle and other green sectors.
Von der Leyen, president of the European Union Commission, has worked closely with Biden in forging an unprecedented response to the Russian invasion of Ukraine over the last year.
Biden told von der Leyen that the alliance to support Ukraine marked “a new era.”
And in their joint statement later, they said that Russian President Vladimir Putin “thought that he would divide us, and yet we are more united than ever. We stand together in our unwavering support for Ukraine for as long as it takes.”
Electric vehicle tensions
However, tensions are swirling in Europe over the Biden administration’s landmark Inflation Reduction Act (IRA), a government spending spree championing US manufacturing in climate-friendly technologies.
Amid EU alarm that the subsidies’ “made in America” requirement will hurt European-based energy and auto sectors, the EU is working on its own sets of incentives, such as the Green Deal Industrial Plan, to promote the emerging sector.
The joint statement indicated that Biden and von der Leyen made progress with a deal to start talks on an exemption for European producers seeking to export critical minerals for electric vehicle batteries.
“Today we agreed that we will work on critical raw materials that have been sourced or…
