THE France may try to negotiate some tax exemptions and limits imposed by the US anti-inflation law. United Statesbut Europe must act to protect the bloc’s economic interests, French Economy and Finance Minister Bruno Le Maire said on Sunday.
Le Maire will accompany French President Emmanuel Macron on a visit to the United States next week.
Europeans say the massive subsidy package to protect US manufacturers under the Inflation Reduction Act could deal a lethal blow to their industries, which are already suffering from high energy prices caused by the Russian invasion of Ukraine. .
“France can request exemptions from some fees and limits imposed by the US government. But the real question we must ask ourselves is: what kind of globalization lies ahead of us?” Le Maire told France 3 television.
“China favors Chinese production, the US favors US production, it’s time for Europe to favor European production,” he added.
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Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
