A “European IRA” is about to see the light of day, French Finance Minister Bruno Le Maire said on Monday, welcoming proposals by the European Commission to counter hundreds of billions of dollars in the massive US climate plan. Joined.
The US Inflation Reduction Act (IRA), a $430 billion plan to dole out subsidies to green industries like makers of batteries for electric cars and solar panels, worries Europeans who fear that industries settle in the United States in the future due to financial incentives.
repackaged
European Commission President Ursula von der Leyen proposed on Wednesday to ease state aid to support the green transition of European industrialists in the face of US and Chinese subsidies, with no new EU funding immediately.
Their proposals will be discussed at a summit of EU heads of state and government on Thursday and Friday in Brussels, ahead of decisions expected in March. In addition to the subsidy component, they essentially consist of the redistribution of existing media, a “repackaging” of measures that has earned him criticism.
Ahead of the weekend’s European summit, Bruno Le Maire and his German counterpart, Robert Habeck, will travel to Washington on Monday to meet US Treasury Secretary Janet Yellen and try to negotiate adjustments to America’s grand plan.
On Saturday, the French minister called on the United States to show “transparency” in the deployment of its massive subsidies, in an interview with AFP.
Source: BFM TV
