Macron explains how Europe should respond to US economic policy
French President Emmanuel Macron said that the United States is splitting the West by excessively subsidising American companies. Therefore, the EU should respond to this economic policy with a Made in Europe strategy – as stated by the French leader before his negotiations with Swedish PM Ulf Kristersson, TASS reports.
Macron stressed that the conversation between the two politicians concerned the economic situation on the continent on the eve of the European Council, which is scheduled for February 9th and 10th.
“I am convinced that we need a Made in Europe strategy to give our own response to the voluntaristic US policy. We must be able to protect European industry, create more jobs and become more competitive by increasing clean energy production, reducing our strategic dependence,” the President of France said.
Earlier, the US passed the Inflation Reduction Act (IRA), which envisages generous subsidies to manufacturers of electric vehicles, batteries and energy equipment, provided that they are manufactured in the United States.
According to European leaders, this law could lead to a new transatlantic commercial war.
