The European Union in dispersed order against the United States

Christian Lindner, the German Minister of Finance (on the left) and Bruno Le Maire, Minister of the Economy, on November 24, in Paris. ERIC PIERMONT/AFP

DECRYPTION – Industrial policy, energy, finance… The Twenty-Seven are struggling to come to an agreement.

Faced with the risks for their own industry presented by the massive American support plan for the Inflation Reduction Act (IRA), Europeans are caught like rabbits in the headlights of a car.

“These American decisions must be the occasion for a European leap forward”, pleaded Bruno Le Maire, on his arrival in Brussels, Monday, for meetings of the Ministers of Finance of the Twenty-Seven, to whom he had to report on his trip to the United States last week alongside the President of the Republic.

The Inflation Reduction Act, with its 369 billion dollars in subsidies, part of which is reserved for manufacturers of American electric vehicles and batteries as well as players in the green transition, threatens the competitiveness of industrialists on the Old Continent in the long term. “The best answer to the IRA is a European IRA”, continued the French Minister of the Economy, according to whom it is nothing less than the industrial future of Europe, caught in a vice between…

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