USTR Tai: US Places Highest Priority On Addressing EU Trade Fears

US Trade Representative Katherine Tai has told reporters at the World Economic Forum, ahead of a meeting with European Commission Executive Vice President Valdis Dombrovskis, that the United States places the highest priority on assuaging EU concerns over protectionism.

• 12:00 ET 17:00 GMT 18:00 CET: Tai and Dombrovskis will give a joint press conference: https://audiovisual.ec.europa.eu/en/ebs/1/20230117
• Tai said that a taskforce set-up by Tai and Dombrovskis in October is addressing issues which are complicated and important for both the US and EU: "In terms of the task force's work what I would say is, it's ongoing, it really has the highest priority placed on it from President Biden himself."
• The EU has expressed reservations that US moves to lessen the impact of tax credits and incentives don't go far enough to shelter EU manufacturers.
• EU Commission President Ursula Von Der Leyen gave a speech to the forum this morning outlying the new Green Deal Industrial Plan, a EU response to US Inflation Reduction Act.
• Von Der Leyen: “To keep European industry attractive, there is a need to be competitive with offers and incentives that are currently available outside the European Union."