(MENAFN- Trend News Agency)
The United States and European Union agreed Monday to intensify
talks to resolve EU concerns over major subsidies for American
companies contained in a US clean energy law, trend reports citing
Although no deal was reached at a meeting of the bilateral Trade
and Technology Council, the two sides pledged to continue work on
preliminary progress and said they would push for a solution that
benefits both US and European firms, workers and consumers as well
as the climate.
'We acknowledge the EU's concerns and underline our commitment
to address them constructively,' the two sides said in a joint
statement after the meeting at the University of Maryland in
College Park, located just outside Washington DC.
'We underline the TTC's role in achieving this and in supporting
a successful and mutually supportive green transition with strong,
secure, and diverse supply chains that benefit businesses, workers,
and consumers on both sides of the Atlantic,' it said.
The dispute revolves around the US Inflation Reduction Act which
offers about €357 billion in new and extended tax credits to help
the US clean energy industry as well as buyers of qualifying
electric vehicles made in North America.
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