European Commission Executive Vice President Margrethe Vestager said Thursday she is optimistic that an electric vehicle battery minerals trade agreement can soon be reached with the U.S. that is similar in substance to Washington's deal this week with Japan.
Vestager told reporters in Washington that European Union and U.S. negotiators are working on legal frameworks that would be different from the Japan deal.
"And that is what has been holding up things, but we are quite optimistic that we can reach an agreement about the same sort of substantial scope as the Japanese," Vestager said.
The talks come as the U.S. Treasury on Friday is poised to unveil new guidance on the battery content and minerals portion of the new $7,500 electric vehicle tax credit enacted in last year's clean energy-focused Inflation Reduction Act.