08.11.2022, Paris.
The US government acted “unfriendly” in passing the inflation reduction law, French President Emmanuel Macron said on November 8 in a speech to French industry representatives.
The French president said European citizens would face economic hardship because of the US inflation reduction law. He noted that authorities in Washington have decided to sell gas at high prices and subsidize their producers, which completely nullifies the possibilities of the “European project” in world markets.
“I think this law is not in accordance with WTO norms, besides, I think it is not friendly,” Macron said.
At the same time, the French head of state hoped to discuss these controversies in a “friendly atmosphere” during his upcoming visit to Washington.
The US Inflation Reduction Act provides almost $370 billion for the construction of new production facilities on its territory. Thus, according to the French Ministry of Finance, as a result of the law, a deal with an electric car manufacturer was thwarted because the US offered him four times the amount of investment.
Source: Rossa Primavera News Agency
