Wednesday, December 07, 2022

The EU meets to discuss its trade relations with the US and the war in Ukraine

The EU meets to discuss its trade relations with the US and the war in Ukraine

PrahaOctober 31 – EU trade ministers and US Trade Representative Catherine Tay hold talks in Prague on Monday to discuss how best to contact someone. America that the European Union considers discriminatory with its electric car manufacturers.

EU ministers also studied the possibility of expanding commercial support to Ukraine, also hoping that a trade deal with Latin American countries would go ahead after the presidential election in Brazil, the ministers said at the start of the talks.

Non-US automakers have criticized the “Inflation Reduction Act”. America Approved in August for a value of $430,000 million, aimed at fighting climate change and making Washington a world leader in the electric vehicle market.

US law states that electric vehicles must be assembled in North America to be eligible for tax benefits. The European Union says it discriminates against cars made in the bloc, and American cars sold in Europe enjoy the same tax breaks as European cars.

The European Union and the United States have set up a joint working group to deal with the issue, so Tai attended the Prague meeting to discuss it.

Commission Vice-President Valdis Dombrowski said before the meeting: “Overall, we are on a positive path and it is very important that we, as strategic partners, maintain close cooperation between the EU and the US, especially in the situation we are in now. facing.” Union and responsible for the trade of the same, in the context of the Russian invasion of Ukraine.

“There are also concerns regarding the Inflation Reduction Act and its discriminatory provisions. In this regard, we have created a European Union-America to address these issues.”

Czech Minister of Industry and Trade Josef ikela said there was no timetable for talks, but the current situation was unacceptable for Europe.

“I’m going to be very clear. I think that, as presented, this is unacceptable to the European Union. And we just hope to have the same status as Canada and Mexico,” Sequela told reporters. .

Sequela said the victory of leftist Brazilian leader Luiz Inácio Lula da Silva in Sunday’s presidential election could help advance talks on a trade deal currently stalemate with South American bloc Mercosur.

World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.

Latest News

Related Stories

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Thanks for submitting your comment!