JAKARTA - European Commission President Ursula von der Leyen said she agreed with President Joe Biden during a meeting at the White House on Friday to open a dialogue on incentives for the clean technology industry.
Describing their meeting with Biden as "very good," von der Leyen said they agreed to work together on giving critical raw materials of EU origin access to the US market.
Reuters reported, Von der Leyen said the European Union welcomed the US Inflation Reduction Act because it provides a large investment in the green energy transition.
The US Inflation Reduction Act is a law that aims to respond to and reduce the impact of high inflation on the US economy. This law contains various programs and incentives designed to promote steady economic growth and create jobs.
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The programs contained in this law cover a wide range of aspects, ranging from infrastructure improvements and investments in education and health to incentives for clean technology and renewable energy industries. Some of the targets are helping vulnerable groups in society such as low-wage workers and poor families.
Its connection to technology lies in the focus of this law on the clean technology and renewable energy industries. One of the goals is to reduce the use of fossil fuels and reduce greenhouse gas emissions. Therefore, this law provides incentives for companies that produce clean technologies and renewable energy and work to reduce the use of fossil fuels.
Thus, the U.S. Inflation Reduction Act is expected to help drive the development of clean technologies and renewable energy in the US, as well as contribute to global efforts to reduce the impact of climate change.
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