Live: US President Biden and French President Macron press conference | DW News

Live: US President Biden and French President Macron press conference | DW News

French President Emmanuel Macron warned on Wednesday that newly introduced US subsidies could drive a wedge in European-American trade relations. Speaking from Washington ahead of a meeting with US President Joe Biden, Macron was quoted as describing the subsidies as “super aggressive.” Biden signed the subsidies as part of the $430 billion Inflation Reduction Act last summer. The act promotes domestic energy production and clean energy. The European Union argues that the tax breaks for US-made products put its own products at a significant disadvantage.

Macron’s statements come ahead of a day packed with activities with US counterpart Biden. On Thursday, the Macrons are expected for a state dinner at the White House, the first for a head of state since Biden’s inauguration nearly three years ago. The dinner is overseen by the first lady herself. It is part of the wider signs of amicable relations between the two countries, which Macron’s visit aims to highlight. However, news reports ahead of the visit suggested Macron would use his time with Biden to air Europe’s grievances regarding the US Inflation Reduction Act. While Europe is aware that any major revision of the subsidies is out of the question, officials hope to secure exemptions similar to those granted to Mexico and Canada.

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