Biden May Give European Automakers US Tax Credits for Battery, Critical Mineral Production

Biden May Give European Automakers US Tax Credits for Battery, Critical Mineral Production
Volkswagen, Europe’s largest automaker, is among manufacturers lobbying the European Union to adopt a “green incentive” package similar to those included in the United States’ Inflation Reduction Act or instead of building factories in Europe, they will do so in the United States. Fabian Bimmer/Reuters
John Haughey
Updated:
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The United States and the European Union will negotiate a revised trade agreement that could allow European manufacturers to receive U.S. tax credits for producing critical minerals such as lithium and nickel for electric car batteries.

Following a March 10 meeting at the White House between President Joe Biden and European Commission President Ursula von der Leyen, the leaders agreed to begin talks about the “Made in America” provision in the U.S. Inflation Reduction Act (IRA), which the EU maintains is “protectionist” and an obstacle in breaking free from dependence on Russian oil and gas.

John Haughey
John Haughey
Reporter
John Haughey is an award-winning Epoch Times reporter who covers U.S. elections, U.S. Congress, energy, defense, and infrastructure. Mr. Haughey has more than 45 years of media experience. You can reach John via email at [email protected]
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