Scholz and Macron come up with an “ambitious and fast” response to the USA

23.01.2023, Paris.

The French and German presidents agreed on a new European economic strategy to counter the anti-inflation law in the USA, which suppresses industrial development in the EU, after a joint meeting in Paris on January 22. The results of the meeting were announced at a press conference.

“We will have a common European strategy that will lead to an ambitious and quick response,” French President Emmanuel Macron told reporters at a news conference.

The French president announced “simple, quick and visible tools for our industry. A system of assistance to European enterprises will be organized, and access to public and private financing will be arranged.”

Since the beginning of 2023, President Macron has been making critical statements against the US Inflation Reduction Act (IRA). He believes that “unfriendly” US measures threaten to deindustrialize Europe.

The IRA was adopted by US President Joseph Biden in August 2022 and took effect on January 1, 2023. It is aimed at subsidizing taxation of high-tech industries, particularly electric cars, in case they are made in the USA and use US-made batteries.

The total amount of subsidies for “clean energy” is $370 billion, and another $64 billion is provided for medical purposes – reducing the cost of drugs and health insurance.

Source: Rossa Primavera News Agency

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