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U.S. Inflation Reduction Act 'super aggressive,' Macron tells American lawmakers
Updated 15:06, 01-Dec-2022
CGTN

French President Emmanuel Macron addressed U.S. lawmakers from both political parties on Wednesday and pushed back over new American subsidies that are riling European leaders, according to a participant in a closed-door meeting.

Macron arrived in Washington on Tuesday for his second state visit to the United States since taking office in 2017, ahead of which French officials said he would confront President Joe Biden over the subsidies contained in the Inflation Reduction Act (IRA).

French President Emmanuel Macron speaks during a ceremony at the French Embassy in Washington, D.C., U.S., November 30, 2022./Reuters
French President Emmanuel Macron speaks during a ceremony at the French Embassy in Washington, D.C., U.S., November 30, 2022./Reuters

French President Emmanuel Macron speaks during a ceremony at the French Embassy in Washington, D.C., U.S., November 30, 2022./Reuters

Biden and Macron, joined by their wives, Jill and Brigitte, took an early opportunity to get together ahead of their formal talks on Thursday. They rode in the U.S. presidential motorcade a short distance from the White House to the historic area of Georgetown and dined at Fiola Mare, an Italian restaurant.

"This is super aggressive for our business people," Macron said at the working lunch in the ornate Library of Congress, ahead of what are expected to be tense trade talks with President Joe Biden.

"You will perhaps fix your issue, but you will increase my problem," he said, referring to the Inflation Reduction Act, Biden's signature green industry policy that recently came into effect.

"So we will have to bridge the gap," he said, urging Washington to coordinate more directly with Europe on trade issues.

European leaders have complained about the legislative package, signed by Biden in August, that offers massive subsidies for U.S.-made products, which they say unfairly disadvantages non-American companies and would be a serious blow to their economies as Europe deals with the fallout from Ukraine crisis.

White House Press Secretary Karine Jean-Pierre said the legislation "presents significant opportunities for European firms as well as benefits to EU energy security," when asked about European concerns.

In introductory remarks at the Library of Congress with reporters present, Macron said France and the U.S. should join forces to reform the International Monetary Fund and the World Bank so their funds can be directed to countries hit by climate change.

(Cover photo: A shopper carries bags on Market Street in San Francisco, California, U.S., November 29, 2022./CFP)

(With input from Reuters and AFP)

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