The US and EU cooperate to solve the oversupply of the steel industry

Mr. Valdis Dombrovskis, agreed to accelerate negotiations on a global agreement to deal with the oversupply of the steel industry, along with other trade and economic topics at the bilateral meeting in Washington Capitals (USA).

In a statement after the meeting, Ms. Tai's office said the two sides discussed the US Inflation Reduction Act and concerns about electric vehicles, as well as China's activities related to subsidies. industry. US Trade Representative and EU counterpart Dombrovskis have agreed to speed up discussions on the global steel deal. Regarding the automobile manufacturing sector, the two sides suggested that the bilateral working groups strengthen exchanges on the impact of the recently passed Inflation Reduction Act on electric vehicles.

Ms. Tai noted that a serious response to the climate change crisis requires increased financial investment in clean energy technology, as well as addressing supply chains and security vulnerabilities.

Regarding the concerns raised by European Trade Commissioner Valdis Dombrovskis about the "too broad" provisions of the new US Inflation Reduction Act, Ms. Tai expressed confidence that both sides can address these concerns. .

Earlier, the US Trade Representative said the country was planning to hold another meeting of the US-EU Trade and Technology Council before the end of the year.

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