French President Emmanuel Macron, during a visit to Washington this Wednesday, criticized the subsidies provided by US counterpart Joe Biden’s grand climate plan, favoring products produced in the US as the plan is “super aggressive”.
“It’s super aggressive for our company,” the French head of state warned during a luncheon with congressmen at the Capitol.
The large subsidies decided by the US president, in the important economic and social measure called the Inflation Reduction Act (IRA), are “intrusive on our businesses,” Macron stressed at the meeting, according to an AFP journalist present in the room used to be.
“Put yourself in my shoes,” the French leader referred to congressmen, adding, “You may solve your problem, but you’re making mine worse” with that agenda.
For Macron, these pharaonic investments could “kill a lot of jobs” in Europe, if not for better transatlantic coordination.
“No one contacted me when the IRA was negotiating,” he insisted, calling for “to be respected as a good friend”.
France looks with concern at the unbridled economic patriotism of the US Democratic president, under the motto “Made in USA” [“Produzido nos Estados Unidos]🇧🇷
In particular, Joe Biden plans to boost the electric vehicle sector, aiming to increase industrial employment, energy transition and technological competition with China.
The plan launched by Joe Biden provides nearly $375 billion (368.9 billion euros) in climate and energy programs to help the country reduce greenhouse gas emissions by about 40% by 2030.
The package will be largely funded by tax increases, including a new tax on corporate share buybacks and a 15% minimum tax on companies with very high profits.
On the environmental side, the bill will bring in nearly $375 billion over the decade, providing consumers with tax benefits for purchasing electric vehicles.
In the company of his wife, Emmanuel Macron will meet members of the French community in the US after a traditional ceremony at Arlington National Cemetery.
Emmanuel and Brigitte Macron, along with Joe and Jill Biden, will attend an intimate dinner far from the formality the White House has planned for this Thursday, as it will receive the French president between the cannon shots, with a meeting in the Oval Room and with a gala dinner.
From a US point of view, the state visit hopes to turn the page on last year’s serious diplomatic crisis.
In September 2021, the United States announced a new alliance, AUKUS, with Australia and the United Kingdom, drawing the ire of France as it lost a “mega deal” for submarine sales in Canberra.
In addition to the issue of trade protectionism, Joe Biden and Emmanuel Macron will also discuss major international issues on Thursday: China and Ukraine.
Source: DN
