Friday’s meeting between President Joe Biden and top EU official Ursula von der Leyen aims to resolve a transatlantic trade dispute over green economy subsidies and to discuss joint efforts to tackle Russia.
In order to create an unprecedented response to Russia’s invasion of Ukraine during the past year, the president of the European Union (EU) Commission closely collaborated with Biden.
In a coordinated effort to impose sanctions against Moscow and provide Ukraine with arms and assistance, European capitals joined Washington. Many were also taken aback by how rapidly EU nations took action to remove the bloc’s reliance on Russian energy imports.
The historic Inflation Reduction Act (IRA), a government spending spree that supports US production in climate-friendly technology, is causing difficulties in Europe, nevertheless.
The European Union is developing its own sets of subsidies, such as the Green Deal Industrial Plan, to support the expanding sector amid concerns that the subsidies will exclude European manufacturers and harm the energy and auto industries.
Biden and Von der Leyen want to make sure that the two programmes work in tandem, a senior US official told reporters.
