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French Fin Min-EU Must Defend Its Industry In Face Of US Inf. Red. Act


Wires carrying comments from French Finance Minister Bruno Le Maire regarding the Green Deal Industrial Plan announced earlier today by Commission President Ursula von der Leyen.

  • Le Maire states that the Commissions 'strong proposals' for green industrial policy go in the direction France has called for.
  • Le Maire: Europe must prepare to defend its industry in the face of the US Inflation Reduction Act (IRA).
  • The French gov't has been one of the most forthright in the EU on advocating a strong response to the IRA. In November 2022 President Emmanuel Macron called the legislation 'super aggressive'.
  • In early Jan, Le Maire said that he would put forward legislation "...that will include tax, regulation and legislative measures to accelerate the installation of industrial sites in France," that would act in tandem with EU-level efforts to counter the IRA.

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