Van der Leyen: “Create an anti-US-EU China club on raw materials” – Europe

“Today, the production and processing of some critical commodities for the Green Revolution is controlled by a single country, China. Europe and the United States can create an alternative to this monopoly by establishing a critical commodities club. The idea behind this is simple: collaborating with partners and partners for procurement, production and processing, we can break the monopoly.” gives opportunity.” Ursula van der Leyen said it in Bruges.

The American Inflation Reduction Act (IRA) “could lead to unfair competition, close markets and fragment the same critical value chains that Covid-19 tested. We need to pay close attention to these issues and, at the same time, learn from what we can do better. In doing so, we three Challenging aspects must be considered: first, the ‘Buy American’ rationale that is part of the IRA; second, the tax discrimination that leads to it; and third, the manufacturing subsidies that lead to competition for subsidies”.

“The US Inflation Reduction Act (IRA) should make us think about how to improve our state aid regulatory framework and adapt them to a new global environment,” said EU Commission President Ursula von der Leyen.