The Biden administration may allow European companies to share in billions of dollars in U.S. tax incentives for electric vehicles if the two sides can reach a trade deal in the next few weeks, a senior administration official said Friday — a move that could help ease a major source of transatlantic friction.
No such concessions for Europe will be included in a long-awaited proposed guidance that the Treasury Department will release for the incentives next week, the official told POLITICO after being granted anonymity to discuss sensitive deliberations. But ongoing talks between the U.S. and EU could produce an agreement allowing vehicles that include European minerals to qualify for the full extent of the tax breaks, the person said.
