French President Emmanuel Macron criticized, on Wednesday, during a visit to Washington, the subsidies stipulated in his US counterpart Joe Biden’s grand climate plan, which favors products produced in the United States, considering the plan “too aggressive.”
And the French head of state warned during a lunch with members of Congress in the Capitol building: “It is an act that is very aggressive for our business.”
Macron stressed during the meeting that the large subsidies decided by the US President, in the important economic and social measure called the Inflation Reduction Act (IRA), are “above retaliation for our companies.”
“Put yourself in my shoes,” the French leader referred to members of Congress, adding, “You can solve your problem, but you will make mine worse” with this agenda.
For Macron, these pharaonic investments could “eliminate many jobs” in Europe, if there is no better coordination across the Atlantic.
He insisted that “no one contacted me when the IRA was in negotiations”, calling for “respect for him as a good friend”.
France looks with concern at the unrestrained economic patriotism shown by the US Democratic president, under the slogan “Made in the USA”. [“Produzido nos Estados Unidos]🇧🇷
Joe Biden, in particular, intends to boost the electric vehicle sector, aiming to increase industrial employment, energy transition and technology competition with China.
The plan launched by Joe Biden calls for nearly $375 billion (€368.9 billion) in climate and energy programs aimed at helping the country reduce greenhouse gas emissions by about 40% by 2030.
The package will be funded largely by tax increases, including a new tax on corporate stock buybacks and a 15% minimum tax on companies with very high dividends.
On the environment, the law will pump in roughly $375 billion over the decade, which for consumers means tax benefits for buying electric vehicles.
Emmanuel Macron, accompanied by his wife, will meet members of the French community in the United States, after a traditional ceremony at Arlington National Cemetery.
Emmanuel and Brigitte Macron will be with Joe and Jill Biden in an intimate dinner, far from the formalities planned by the White House for Thursday, where he will receive the French President between cannon shots, with a meeting in the Oval Room and with a gala dinner.
From the perspective of the United States, the state visit hopes to turn the page on the serious diplomatic crisis that occurred last year.
In September 2021, the United States announces a new alliance, AUKUS, with Australia and the United Kingdom, angering France, which loses a “mega-deal” for the sale of submarines in Canberra.
In addition to the issue of trade protectionism, Joe Biden and Emmanuel Macron are also scheduled to discuss big international issues on Thursday: China and Ukraine.
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