Habeck wants “mini free trade” for some products with the United States
Vice Chancellor Robert Habeck USA: “Don't create it piecemeal”
Source: German News Agency/Brita Pedersen
Batteries, semiconductors or vital raw materials – Economy Minister Robert Habeck is seeking an agreement for the free trade of some goods with the United States. “We are actually prepared to work on that,” he said after the conversation with the US Commerce Secretary.
BEconomy Minister Robert Habeck (Green Party) wants to work towards a free trade agreement for some goods with the United States. Habeck said on Saturday in Chicago at the end of his trip to the United States that he was thinking about “a kind of mini-free trade” for some technology products. He has talked about this with US Commerce Secretary Gina Raimondo – “and we are both willing to work on it.”
Discussions are underway between the United States and the European Union to establish common standards for a range of goods covered by US President Joe Biden's multi-billion-dollar support program, or IRA. Habeck specifically mentioned industrial goods, batteries, semiconductors and important raw materials.
The IRA raised concerns in Europe, especially in Germany, about subsidy racing and corporate migration to the United States of America because support for the IRA is linked to production in the United States. European companies should also be given access to US subsidies through common rules and standards – for example, if a US car manufacturer installs a battery made in Europe.
Habeck said that progress has been made in various working groups on this topic between the United States and the European Union. The results still need to be “finalized so that the products can be identified.”
But this is not enough for the Minister of Economic Affairs: “It's okay, but it's okay.” “In my opinion, we need more, specifically a solid foundation so that new financing or new products can flow automatically.” A joint agreement must be established “not just gradually.”
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