Markets Wired

BERLIN – Yesterday, U.S. Treasury Deputy Secretary and State Secretary of the German Federal Chancellery Jorg Kukies convened a roundtable of German business leaders from the industrial, energy, and automotive sectors to discuss shared opportunities to promote economic growth and prosperity and advance the transition to a clean energy economy. The Deputy Secretary and State Secretary emphasized the close and deep bilateral relationship between the United States and Germany, including critical trade and economic relations. Both officials recognized that climate change is a global challenge that will require constructive and close engagement between allies and partners around the world to build a clean energy economy while strengthening our supply chains and bolstering our energy and investment security.

In addition to the roundtable, Deputy Secretary Adeyemo also met with German Head of the Federal Chancellery Wolfgang Schmidt, State Secretary of the Federal Foreign Office Susanne Baumann, and State Secretary of the Federal Ministry for Economic Affairs and Climate Action Udo Philipp while in Germany. In these meetings, the Deputy Secretary underscored the U.S.’s commitment to continue working with Germany to hold Russia accountable for its illegal war through sanctions and measures like the price cap on Russian seaborne oil, on shared climate goals, and on assistance for Ukraine. The Deputy Secretary congratulated his counterparts on the agreement reached at the EU to provide an additional 18 billion euros in assistance to Ukraine, as well as impose additional sanctions on Russia and adopt the global minimum tax agreement reached at the OECD last year.

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