working group working to address Europe’s concerns about the Inflation Reduction Act (IRA), passed by the US Congress last August, and to support sustainable and resilient supply chains across the Atlantic region.
A press release published by the European Commission, via its official website a few hours ago, stated, commenting on a meeting held by Bjorn Seibert, Head of the Office of the President of the European Commission, in Berlin with US Deputy National Security Adviser Mike Pyle, where the two parties discussed a wide range of priority issues including the re-run of the issue. Reconstruction of Ukraine, as well as an agreement to launch a joint US-European task force on IRA.
The statement added that the new working group will address the specific concerns raised by the European Union in relation to the law to reduce inflation. The two sides also agreed on the importance of close coordination to support sustainable and resilient supply chains across the Atlantic, including building a clean energy economy.
The statement noted that the first meeting of the working group will take place next week, drawing on high-level participation from the European Commission and the US government, and once the work of the group begins, Seibert will continue high-level engagement on these issues, including through engagement with US National Security Adviser Jake Sullivan. US National Economic Council Director Brian Dees and other senior officials from both sides.
It is worth noting that many major economic powers, including the European Union, China and South Korea, considered that the new American law places their imports in an unbalanced position in the United States market, because it provides tax exemptions for electric vehicles and battery components for electric cars manufactured in North America only, and does not include China, South Korea and the EU, however, analysts expected officials from both sides to reach an agreement that would give EU companies, including electric car makers, the same status as US companies in the US market