German minister Habeck calls for green tech cooperation with United States

© Reuters. FILE PHOTO: German Economy and Climate Minister Robert Habeck and Sweden's Minister for Energy Ebba Busch (not pictured) be a news convention successful Stockholm, Sweden February 2, 2023. Claudio Bresciani /TT News Agency/via REUTERS.

BERLIN (Reuters) - Germany's Economy Minister Robert Habeck has called for practice successful greenish investments betwixt Europe and nan United States up of meetings successful Washington adjacent week pinch U.S. Treasury Secretary Janet Yellen and different officials.

"We tin build a greenish span crossed nan Atlantic and build associated greenish ... markets," nan German system ministry connected Sunday quoted Habeck saying, successful an itinerary of nan planned meetings besides involving his French counterpart Bruno Le Maire.

Reuters connected Saturday quoted French officials arsenic saying Habeck and Le Maire would usage nan meetings to property elder U.S. officials not to effort to actively poach greenish investments from Europe amid European concerns astir U.S. greenish tech subsidies.

Under nan multi-billion dollar Inflation Reduction Act (IRA), Washington will subsidise products ranging from electrical cars to star panels arsenic agelong arsenic they meet requirements connected being locally produced.

"The USA is now gearing its system towards greenish markets and driving guardant costs reductions successful nan improvement of climate-friendly technologies," Habeck said.

"That's good, but it's important that this happens successful friendly, adjacent title and frankincense leads to advancement successful climate-neutral technologies."

EU governments are worried nan IRA could not only put European producers astatine an unfair disadvantage but lure finance distant from Europe to nan United States. They are apt to want to research exceptions erstwhile nan United States implements nan plans.

In summation to Yellen, nan 2 will besides meet U.S. Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo, nan German ministry connection said.

The talks will beryllium focused connected nan U.S. subsidy package successful nan discourse of early waste and acquisition relations betwixt nan EU and nan United States.