French President Emmanuel Macron during his US visit slammed Joe Biden’s subsidies policy by calling them super aggressive.
Macron stated that US industrial subsidies are super aggressive for our business people.
Subsidies policy is Biden’s signature policy called the inflation Reduction Act (IRA) which will provide industries with billions of dollars with the backing of US-based manufacturers.
“I don’t want to become a market to sell American products because I have the same products as you,” said Macron, stressing that France had its middle class in need of employment.
Macron’s assessment that he simply wanted to be acknowledged as a good friend tore some of the gloss off a meticulously planned state visit that was meant to both celebrate and address the more challenging aspects of the US-EU transatlantic alliance.
“And 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 said.
In response, the White House insisted that the purpose of the state visit is to further their warm friendship.
Later, in a speech at the French embassy, Macron pressed the point about the subsidies warning that this would become a major source of friction between the US and Europe.