EU, US could agree on critical minerals despite steel failure, says France

20th October 2023

By: Reuters


Font size: - +

VALENCIA - The European Union and the United States could reach a deal on critical minerals over the coming weeks or months despite their failure to agree an accord on steel and aluminium, French Trade Minister Olivier Becht said on Friday.

US and EU trade negotiators had hoped to agree on how to end Trump-era metals tariffs and to lessen the impact of the US Inflation Reduction Act (IRA) by Friday in time for a meeting between US President Joe Biden's and top EU officials.

The meeting is now expected to be dominated by the crisis in the Middle East.

"It's clearly a disappointment that we could not advance more quickly with our American friends. The discussions were intense and I hope they will restart as soon as possible," Becht said before an EU ministers' meeting on trade in Valencia, Spain.

He said, however, he expected there would be an agreement "in the next weeks, in the next months" so that critical minerals used in electric vehicle batteries sourced from Europe would be eligible for some of the IRA's consumer tax breaks.

"It's in both the interest of Europe and the United States to have this agreement," Becht said.

The United States has suspended import tariffs on EU steel and aluminium imposed by then-President Donald Trump in 2018, but on condition both sides agree measures to address overcapacity in non-market economies such as China, and promote greener steel.

They had set an end-October deadline. Negotiators now target a deal by the end of the year.

But the sides are apart as Washington wants the EU to apply the metal tariffs to imports from China and Brussels has said it cannot do so before a year-long investigation to comply with World Trade Organization rules.

Edited by Reuters



Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...


From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...


Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 01 March 2024
1st March 2024
Implats CEO Nico Muller
Implats expecting phased reduction in group output
29th February 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.161 0.199s - 107pq - 2rq
Subscribe Now