MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Macron Expected To Push Biden On LNG Prices And Inflation Reduction Act

US-EU

French President Emmanuel Macron is shortly due to arrive at the White House for a state visit with US President Joe Biden.

  • Biden will greet Macron before the two conduct a bilateral meeting. Remarks at the top can be viewed here: https://www.whitehouse.gov/live/
  • Macron will be the first French president to be welcomed for two US state visits having first visited during the Trump administration in 2018 where he delivered a perceived repudiation of Trump in an address to Congress.
  • Macron is expected to be equally forward with Biden in a dispute over LNG prices and the IRA, which France claims violates principles of free trade.
  • France’s ambassador to the US, Philippe Etienne said yesterday: “We are grateful that the United States provides Europe with LNG, but there are issues about the price."
  • On the IRA, Etienne said: “It is an EU-wide problem. It is not a French problem... there is built into this new act a number of tax credits that are discriminatory. We consider in the EU that they are incompatible with the World Trade Organization rules and they’re discriminatory against Europeans, your allies.”
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