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U.S President Joe Biden and European commission president Ursula vonderland say they've made a breakthrough to resolve conflict over the inflation reduction Act the European Union fears the massive package of subsidies for Green Tech companies in the U.S could lure business out of the block up for discussion was extending the favorable conditions to EU companies in hopes of avoiding a subsidy war in a joint statement the two sides said that they would start work on a critical raw materials agreement to end the dispute [Music] well for more we go now to DW's Michaela kufner in Washington Michaela what came out of the talks I know they just finished up well a very well choreographed breakthrough on the inflation reduction act that's some almost 400 billion dollars worth of subsidies and state support and investment in green tech industry here in the United States and that had left out European countries they simply weren't within the umbrella of that agreement because the EU doesn't have a trade agreement with the United States now ozra Wonderland came here and this was of course very well prepared knowing that they would need to have something to present and what the two leaders have launched today is more talks yes but with a clear Target of actually reaching an agreement on those crucial raw materials needed for Green Tech of the future that goes into batteries for instance and that will make it easier for also EU companies to get at least gain some access to the tax breaks and the subsidies that are under the so-called Ira umbrella so at least something um has to show for this visit that is more concrete than just pledges of unity in this transatlantic Alliance all right so lots of talks it'll come but it sounds like Prada progress has been made now talking about critical raw materials I know we're also talking about minerals for electric cars did they talk about electric cars and any progress they've made there can you tell us anything about that well that really feeds into electric car production what you're unlikely to see is that entire cars will be exempt from that and both sides are still and it's an Open Secret really competing for where those industries of the future will be based but what both sides have now found is that companies are frankly shopping around for where they can get the biggest subsidies even if those subsidies don't necessarily determine whether they will build that next battery Factory for instance in the EU or in the United States all the companies we spoke to here at this end also said that there are other factors that play into this for instance um skilled labor that is a huge shortage actually in the United States not just in Europe so the this looked like a good great times for companies to actually get subsidies without really a new investment decision in return selling already made decisions as something new you and that both sides have discovered a joint interest and have said that they will coordinate better in the future basically Let each other know about subsidies that they are planning and be talking to each other and not just that companies shop around for the highest subsidies are bringing us insights from Washington thank you so much