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The President of the Republic wishes to discuss the economic situation and Europe’s response to the resurgence of American industrial protectionism.
Emmanuel Macron is due to receive several major French business leaders on Friday to discuss the economic situation and Europe’s response to the resurgence of American industrial protectionism. The Head of State will have lunch with the leaders of the nuclear group Orano, the electrical equipment manufacturer Schneider, the software company Dassault Systèmes, the IT group Capgemini or even the cosmetics giant L’Oréal, according to the Élysée, which confirmed information from Parisian. This Elysian meeting aims to evoke “the economic situationwhich is deteriorating on a global scale, andthe springs of France to resist and bounce back“With the attractiveness and the creation of jobs in the line of sight, it is said in the entourage of Emmanuel Macron.
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A call to industrial groups to stay in Europe
The president also intends to discuss with these big bosses, mainly at the head of industrial companies, the Inflation Reduction Act (IRA), a staggering plan by American President Joe Biden which provides for large subsidies and support for companies established in the States. States in the electric vehicle or renewable energy sectors. This subject had already been on the menu of a dinner between Emmanuel Macron and major European industrialists at the end of November. The Head of State had called on their groups to stay in Europe, and especially in France, despite the attractiveness of these American protectionist projects.
Read alsoWhat is the “Inflation Reduction Act”, a subject of friction between Europe and the United States?
In the process, during his state visit to Washington in early December, he took the lead in the response to the IRA by demanding exemptions from Joe Biden for certain European industries and urging the European Union to react by with a policy similar to that of the United States. EU leaders are due to discuss it in February, but the dossier will also be on the table of the Franco-German Council of Ministers with Chancellor Olaf Scholz on January 22 at the Élysée.
Emmanuel Macron had already had lunch earlier this week with some French and German economists, including Markus Brunnermeier, Agnès Bénassy-Quéré and Camille Landais, to discuss the economic consequences of the war in Ukraine and the policy pursued by the two countries, according to the presidency.
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