France and Germany's economy ministers found a willingness in Washington to engage with Europe's concerns over subsidies for green technologies under the U.S. Inflation Reduction Act, but emerged with few specifics from meetings with top officials there.
The symbolic trip by the duo in charge of Europe's two largest economies was designed to highlight the matter's importance, Habeck added.
After meetings with Yellen, Commerce Secretary Gina Raimondo and White House officials, Habeck and Le Maire emerged with few specifics other than pledges to be clear about their competing green subsidies. Noting the agreement on both sides on the need for transparency on subsidies, Habeck said, "We will a technical group to make this transparency work."
Among the meeting's achievements, Habeck listed a commitment to have the U.S.-EU Trade and Technology Council develop common standards for green goods and an agreement to explore creating a "critical minerals" club to help both sides of the Atlantic reduce dependence on China for minerals in batteries.Readouts from U.S. officials were less specific about the outcomes and signaled no major concessions. The U.S. Treasury said Yellen discussed both the U.S.
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