The United States and the European Union are engaged in discussions regarding a free trade-style agreement centered around clean technology, according to an article published by the Financial Times. U.S. Energy Secretary Jennifer Granholm expressed her hope that any potential agreement would not be marked by trade rivalry, stating that the goal is to find a way for all parties to benefit.
In an interview with FT, Granholm remarked, “We’re in discussion with our EU counterparts about how to make sure we can do this in a way that lifts all.” The U.S. is looking to establish a strong foundation for manufacturing, reversing decades of deindustrialization and reducing dependence on China, she added.
The Financial Times report comes after the European Commission’s announcement that EU businesses can receive government funding equivalent to that offered by a U.S. green energy subsidy package. This development signals a growing focus on clean technology investment in both the U.S. and the EU.
Subheadings:
- US and EU in Talks for Free Trade-style Deal for Clean Technology
- No Room for Trade Rivalry in Clean Technology Deal, Says US Energy Secretary
- US Seeks to Reverse Deindustrialization and Dependence on China Through Clean Technology
- EU Businesses Can Receive Government Funding for Clean Energy
Clean Technology Deal: United States and European Union in Talks
In a move that could significantly boost investment in clean technology, the United States and the European Union are currently in negotiations for a free trade-style agreement. The Financial Times reports that the talks center around clean technology and a desire to promote growth in this sector.
US Energy Secretary Jennifer Granholm expressed her hope that any such agreement would be free of trade rivalry. “We don’t want to see any trade rivalry,” she said in an interview with FT. “And we’re in discussion with our EU counterparts about how to make sure we can do this in a way that lifts all.”
US Looks to Reverse Deindustrialization and Dependence on China
Granholm also highlighted that the US is seeking to develop a “backbone” of manufacturing in order to reverse decades of deindustrialization and reduce dependence on China. This suggests that the US is hoping to build up its domestic production of clean technology goods, rather than relying on imports from China or other countries.
Clean Technology Funding: EU Offers Government Support
The news of the clean technology agreement between the US and the EU comes on the heels of the European Commission’s announcement that EU businesses will be eligible for government funding for clean energy. This means that EU firms will be able to receive financial support equivalent to that offered by a US green energy subsidy package.
With both the US and the EU making strides towards clean technology investment, it is clear that this is an area of growing importance. By working together and encouraging investment in this sector, both parties stand to benefit from increased economic growth, reduced dependence on foreign imports, and a cleaner, more sustainable future.
