Trudeau warns U.S. about electric vehicle subsidies before Biden summit


Joe Biden will meet with Mexican and Canadian leaders at the White House on Thursday. Justin Trudeau Urge U.S. lawmakers to reject protectionist policies in the debate about the U.S. Electric car subsidy.

The first trilateral meeting between the three heads of state since 2016-the so-called “Three Friends” summit-comes at a time when Mexican and Canadian officials complain that Biden plans to provide tax credits for electric vehicles made in the United States. This is part of the packaging of his $175 million expenditure and violates international trade rules.

The Office of the Prime Minister of Canada stated that Trudeau has spoken to lawmakers on Capitol Hill to “let these major lawmakers understand the importance of bilateral cooperation.”

As US officials seek to coordinate with allies to strengthen critical supply chains and respond to global crises, the US president will see at the summit that the US president’s goal is to strengthen diplomatic relations across North America.

US officials said that the three leaders plan to set up a supply chain working group to “minimize future disruptions,” while other issues that need to be discussed include climate cooperation, health and safety, and immigration.

“North America is a platform that is vital to our domestic economic success and partnerships, and can play a truly critical role in solving regional and global challenges,” said a US official.

Washington has been working hard to protect the supply chain of key industries such as semiconductors, pharmaceuticals, and electric vehicle batteries to reduce excessive reliance on countries such as China.

Canada, in particular, is a rich source of minerals vital to electric vehicle manufacturing, such as lithium, nickel, cobalt, and graphite.

A senior US official said that on Covid-19, the three leaders are expected to reach an agreement that Canada and Mexico will share part of the vaccine donated to them by the United States with other countries in Latin America and the Caribbean. The official added that public health experts will determine the timing and number of doses.

At the same time, the United States also expressed Mexico Energy Reform, Industry experts say this will make electricity more expensive and dirty.

Mexican President Andrés Manuel López Obrador said that if this issue comes up at the summit on Thursday, he is ready to urge his colleagues to help stop what he calls Abuse by foreign energy companies, he believes that foreign energy companies have unfairly benefited from contracts provided by the previous government.

“Do you think it is difficult for me to say this to President Biden or Prime Minister Trudeau? No, I doubt whether they are in favor of protecting corruption,” he said in the morning press conference. Wednesday.

A U.S. official said that the Biden administration is “closely tracking” Mexico’s proposed energy reforms and is “ready for discussions between the two presidents”.

Trade secrets

The British “Financial Times” revised “Trade Secrets”, which is its must-read daily newsletter on the changing face of international trade and globalization.

Register here Learn which countries, companies, and technologies are shaping the new global economy.



Source link