The Minister of Economy makes things clear. In an interview with AFP, Bruno Le Maire called on the United States to show “transparency” in deploying massive subsidies for its big climate plan, a condition sine qua non to, according to him, respect “fair” competition.
“The most important thing is that we cooperate among allies so that there is transparency about the amount of subsidies and tax credits that will be granted. (…) If you know what price green hydrogen will be in the United States and what price it will be in Europe, that allows you to guarantee conditions of fair competition, ”he declared during this interview.
Source of concern for Europeans, who fear for their industry, the “Inflation Reduction Act” (IRA) and its 370,000 million investments in the fight against climate change will be at the center of Tuesday’s visit by the French minister and his German counterpart, Robert Habeck. in washington.
“Cooperative Approach”
Regarding this visit to the other side of the Atlantic, Bruno Le Maire is “lucid” about “the room for maneuver we have with the US administration, especially in relation to a legislative text that was voted, I remind you, by Congress”.
Still in this desire for a “cooperative approach”, the minister would like to establish “regular exchange mechanisms […] in the most strategic investments in areas as sensitive as semiconductors”.
Finally, the Minister for the Economy stressed that the idea of a European sovereign wealth fund, mentioned by the European Commission, is “interesting”. “The President of the Republic already had the opportunity to say so. What form can he take? Let’s keep discussing it with our partners,” she said.
Source: BFM TV
