The US government and the European Union are working to find a compromise on the consequences of the Inflation Reduction Act (IRA) for the European automotive sector. We already have some; spoken a few times in the past. As we know, the Biden government has linked the provision of incentives for electric cars (tax credit of $ 7,500) to the obligation to assemble vehicles on the territory of the United. Furthermore, & egrave; such cars must be built with critical materials that come from the United States or from a country with a free trade agreement with Washington.
Choice made to push the American automotive industry to reduce dependence on China. However, this position also penalizes European producers . For this reason, in August, the European Union said it was & quot; deeply concerned & quot; of the new configuration of the incentives, as it penalizes foreign manufacturers and violates the rules of the World Trade Organization (WTO).
Since then, the American government and the European Union have started talking to each other to find a way that also allows electric cars produced in Europe to be incentivized.
STEPS FORWARD
That progress is being made is shown by the fact that Bjoern Seibert, chief of staff of the president of the European commission Ursula von der Leyen, met with Joe Biden's deputy national security adviser, Bjoern Seibert to discuss several important issues. In addition to the theme of the reconstruction of Ukraine, it is the creation of a task force has been agreed which will work; precisely to address, among other things, fears about the consequences of the American legislation for European car manufacturers.
Task force that should become operational quickly so that a first meeting should already take place; next week. Apparently, it seems that an agreement can already be reached; by the end of the year. All that remains is to wait for new information on the results of the dialogue between the American government and the European Union.
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