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German Econ Min-Considering Measures To Aid EU Industry If IRA Talks Fail

US-EU

Wires reporting comments from German Economy Minister and Vice Chancellor Robert Habeck regarding EU-US trade tensions. Speaking in Paris alongside French counterpart Bruno Le Maire, Habeck states that the "US is a friend, [and] we are constantly talking with the administration and trying to find solutions".

  • Adds that the EU is "considering measures to strengthen European industry if discussions on the US inflation reduction act fail", noting also that Germany is "completely aligned" with France on the issue.
  • Habeck states that, "Money is not key in competition with the US, it is the length of the approvals process in Germany. We must become faster and more decisive"
  • Earlier, the two ministers released a joint statement calling for 'renewed impetus' in EU industrial strategy, a commitment to the establishment if key strategic areas for technological and scientific aspects of EU sovereignty, and confirming they are both 'determined to swiftly implement joint purchases of gas through long term contracts to achieve lower prices for consumers and industry'.

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