The US Treasury Secretary, Janet Yellen, said again on Thursday that the Biden administration does not want, with its climate plan, to penalize its trading partners, especially European ones, despite the concrete difficulties in drafting these rules.
“The goal of Congress was to make sure we have secure supply chains and try to include our allies in that. So let’s see what can be done,” Joe Biden’s finance minister told reporters. during a trip to Fort Worth, Texas.
European concerns
He pointed to US subsidies given only to US-made electric vehicles, which “are also causing concern.”
Thus, he stressed that one of the problems is “defining free trade partners”, citing the example of “the alliances with Europe in Japan, with which we do not have a formal free trade agreement”.
The European Union has been concerned for several months about the effects of the IRA, US President Joe Biden’s $420 billion plan largely dedicated to climate and adopted last summer, and which was at the center of the state visit to Washington from French President Emmanuel Macron last week.
Source: BFM TV
