Germany Seeking "Amicable" Agreement On Inflation Reduction Act

Wires carrying comments from a German government spokesperson stating that Germany and EU are seeking an amicable agreement with the US over the Inflation Reduction Act.

• The spokesperson said: "Talks with the US are aimed at making clear what impact the act will have, and if nothing comes from the discussions, the Europe will have to discuss how to go from there."
• Comes as French President Emmanuel Macron embarks on a state visit to the US where the IRA will be on the agenda.
• French Economy Minister Bruno Le Maire today repeated a phrase said by Macron earlier this month, after a meeting with German Chancellor Olaf Scholz: “China favours its own production; America privileges its own production. It’s perhaps time that Europe favour its own production.”
• US Trade Rep Katherine Tai said: "I look forward to meeting with [Le Maire] later this week and discussing how we can deepen the bilateral understanding of the Inflation Reduction Act."
• The IRA is also threatening to derail relations with US partners in Asia. Tai this month acknowledged issues with the IRA raised by the Republic of Korea.