HomeWorldMacron insists on criticizing US protectionism.

Macron insists on criticizing US protectionism.

The United States and the European Union (EU) “are not on an equal footing” in relation to the North American subsidies provided for in Joe Biden’s great climate plan, which favors “made in the USA” products, the French president lamented this Thursday.

Emmanuel Macron, on an official visit to the United States, had already criticized the subsidies contained in the US president’s ambitious plan, considering them “commercially super-aggressive” for European companies.

The French president is received today at the White House, in Washington, with whom he will analyze, in addition to the issue of trade protectionism —on the table is the difficult issue of North American industrial recovery projects—, major international issues, such as relations with China and the war in Ukraine.

The alliance with the United States “is stronger than anything”, but Europe must not become an “adjustment variable” at a time when Joe Biden is throwing all the forces of the first world power into the rivalry with China, Macron stressed.

“It is super aggressive for our business,” warned the French head of state on Wednesday, during a lunch with congressmen at the Capitol, as part of a visit to Washington.

The large subsidies decided by the US president, in the important economic and social measure called the Inflation Reduction Act (IRA), are “super aggressive for companies [europeias]”, Macron emphasized during the meeting, according to a France-Presse (AFP) journalist present in the room.

“Put yourself in my place,” the French leader referred to the congressmen, adding: “You can solve your problem, but you will make mine worse” with that agenda.

For Macron, these investments could “kill many jobs” in Europe, if there is not better transatlantic coordination.

“Nobody contacted me when the IRA was in negotiations,” he insisted, asking that he be “respected as a good friend.”

France views with concern the economic patriotism shown by the American Democratic president, with the motto “Made in the USA”.

Joe Biden intends, in particular, to boost the electric vehicle sector, with the aim of increasing industrial employment, the energy transition and technological competition with China.

The plan launched by Joe Biden foresees almost 375,000 million dollars (368,900 million euros) in climate and energy programs aimed at helping the country reduce greenhouse gas emissions by around 40% by 2030.

The package will be largely financed by tax increases, including a new tax on corporate share buybacks and a minimum 15% tax on companies with very high profits.

In environmental matters, the bill will inject almost 375 billion dollars over the decade, which for consumers means tax benefits for the purchase of electric vehicles.

From the American point of view, Macron’s state visit hopes to turn the page on last year’s grave diplomatic crisis.

In September 2021, the United States announced a new alliance, AUKUS, with Australia and the United Kingdom, arousing the fury of France, which lost a “mega-deal” for the sale of submarines to Canberra.

Source: Observadora

- Advertisement -

Worldwide News, Local News in London, Tips & Tricks

- Advertisement -