France’s Le Maire: Europe must defend its economic interests against U.S. subsidy package

PARIS, Nov 27 (Reuters) – France may try to negotiate some exemptions from the rights and limits imposed by the U.S. anti-inflation law, but Europe must act to protect the bloc’s economic interests, the foreign minister said on Sunday. Finances Bruno Le Maire.

The Mayor will accompany French President Emmanuel Macron on a state visit to the United States next week.

Europeans say the massive subsidy package to protect US manufacturers in the Cut Inflation Act could deal a fatal blow to their industries, which are already reeling from high energy prices caused by the Russian invasion of Ukraine.

“France can request exemptions on certain rights and limits imposed by the American administration. But the real question that we must ask ourselves is to know what kind of globalization awaits us?” The Mayor told France 3 television.

“China favors Chinese production, America favors American production, it is time for Europe to favor European production… All European states must understand that today in the face of these American decisions, we must learn to better protect and defend our economic interests,” he added. added.

Reporting by Dominique Vidalon; Editing by Elaine Hardcastle

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