The US and the EU are close to an agreement to make European minerals eligible for tax credits under America’s $430B Inflation Reduction Act.
An agreement could come as early as next week during European Commission President Ursula von der Leyen's visit to Washington.
The deal would help avoid disruptions and improve access to raw materials and battery production by providing the EU with a “free trade-like status.” However, officials say there would be limitations and it would not be an FTA in a traditional sense.