Yellen sees big jump in US imports from Chile, eyes progress on green transition
Source: Reuters
March 2, 2024 6:21 PM EST
LA NEGRA, Chile, March 2 (Reuters) - U.S. Treasury Secretary Janet Yellen on Saturday predicted expanding demand for lithium - a core component needed in batteries for electric vehicles - would boost U.S. imports from Chile substantially in coming years.
Yellen toured U.S. lithium producer Albemarle (ALB.N) in northern Chile on Saturday as she wrapped up a visit to Chile that included meetings with President Gabriel Boric, Economy Minister Mario Marcel and business executives in Santiago.
She told reporters after visiting the Albemarle site in La Negra, about 30 minutes southeast of Antofagasta, that rising demand for clean energy could generate some $3 trillion in global investment opportunities through 2050.
Expanding U.S.-Chilean ties would benefit both countries, improve energy security and help achieve key climate goals, she said, noting that a core goal of the U.S. Inflation Reduction Act is to reduce overdependence on strategic goods, including critical minerals, from China. Yellen said the U.S. was keen to expand domestic production and find other sources of critical minerals like lithium needed to power electric vehicles.
Read more: https://www.reuters.com/business/environment/yellen-visits-us-lithium-site-chile-eyes-progress-green-transition-2024-03-02/
