As President Joe Biden welcomed French President Emmanuel Macron to the United States for the first official state visit of his administration, he encountered pushback from the French leader Wednesday, facing criticism for Biden’s prized “Inflation Reduction Act.”
“This is super aggressive for our business people,” Macron said according to Agence France-Presse in reference to the massive protectionist industrial subsidies throughout the legislation.
Macron noted that his goal is “to be respected as a good friend,” and continued to say “The consequence of the IRA is that you will perhaps fix your issue but you will increase my problem. I’m sorry to be so straightforward.”
He further warned that the policies could eliminate European jobs, according to The Hill citing the AFP. He warned that the trade subsidies of the Inflation Reduction Act and the CHIPs Act are “choices that will split the west,” as reported by France24.
Welcoming some friends to town. pic.twitter.com/n3rbqR98xB
— President Biden (@POTUS) December 1, 2022
Karine Jean-Pierre told reporters Wednesday, “There’s a number of provisions that will contribute to the growth of clean energy sector globally. And that is important to note. It presents significant opportunities for European firms, as well as benefits to EU energy security. And this is not a zero-sum game for us. And so, we see a constructive path of engagement with the EU on this.”
President Emmanuel Macron was greeted by President Joe Biden and a military honor guard at the White House on Thursday for a state visit that the French leader has seized as an opportunity to air deep grievances over U.S.-EU trade. https://t.co/9VoQI5cXhP pic.twitter.com/ynNS1xSDNF
— NEWSMAX (@NEWSMAX) December 1, 2022
On a Thursday appearance on ABC, Macron repeated his concerns in an interview with George Stephanopoulos he told the ABC host that Biden’s policies will remove, “a level playing field” for trans-Atlantic trade according to Newsmax.
European leadership has been complaining about the Inflation Reduction and CHIPs Acts signed into law in August after being pushed almost unilaterally through Congress by Democrats. The bills massively subsidize U.S.-made products and companies to the serious disadvantage of European economies as reported by Reuters.