Black Friday Sale! Save huge on InvestingProGet up to 60% off

U.S., EU agree to speed up steel talks, keep discussing EVs

Published 13/10/2022, 20:22
© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021.  Susan Walsh/Pool via REUTERS

WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai and her European counterpart, Valdis Dombrovskis, agreed to speed up talks on global steel issues, among other trade and economic topics raised at their meeting in Washington, Tai's office said on Thursday.

The two also discussed the U.S. Inflation Reduction Act and concerns about electric vehicles as well as China's non-market practices related to industrial subsidies, the Office of the U.S. Trade Representative said in a statement following their meeting.

Tai and Dombrovskis "agreed to increase the pace of discussions about the global steel arrangement," Tai's office said.

On autos, the two asked their teams to increase engagement on the recently-passed Inflation Reduction Act's impact on EVs, Tai's office said, adding that she noted "that seriously combating the climate crisis will require increased investments in clean energy technologies, as well as addressing supply chain and security vulnerabilities."

© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021.  Susan Walsh/Pool via REUTERS

Earlier, her EU counterpart expressed concern about the "very broad" provisions in the law while Tai said she was confident both sides could resolve their concerns.

The United States is scheduled to host another meeting of the U.S.-European Trade and Technology Council before the end of the year, Tai said earlier.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.