Germany's Scholz and France's Macron Threaten Trade Retaliations Against the US Over for Production Shift Plans

10/28/2022

Per Politico

Chancellor of Germany Olaf Scholz and President of France Emmanuel Macron agree that there is alarming unfair competition from the US and that Europe needs to retaliate.

Both agreed that the recent American state subsidy plans represent measures to shift production to the US. They agreed that the EU should do something if the Inflation Reduction Act, a move offering tax cuts and energy benefits for companies investing on US soil, is passed.

Macron said there needed to be a Buy European Act just like the Americans to reserve subsidies for European manufacturers.

Macron: "You have China that is protecting its industry, the US that is protecting its industry and Europe that is an open house."

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