Senator Tim Scott and Representative James Comer wrote in letters that an “EU-style climate regulatory regime” would harm the U.S. energy, agriculture and financial sectors.
The region is still recovering from a historic energy crisis that was exacerbated by severe supply cuts from Russia in the wake of its war with Ukraine.
The deal will improve the supply chain resilience of minerals like copper, lithium, cobalt and rare Earth elements, which are vital to producing electric vehicles and solar panels.
The IPEF Supply Chain Agreement establishes a framework for long-lasting cooperation on issues like supply chain monitoring, investment promotion, workforce development and crisis response.
In total, the U.S. House Committee on Transportation and Infrastructure approved a package of 12 bills as well as five additional supply chain-focused measures.