Beautiful Virgin Islands

Thursday, Jun 26, 2025

France hits back at America with green industry plan

France hits back at America with green industry plan

France wants to stop lavish US subsidies from encouraging European industry to invest in America instead of the EU.
French Economy Minister Bruno Le Maire hit back at America’s multi-billion dollar green subsidies package on Wednesday by announcing Paris’s own wide-ranging raft of incentives to shore up green industries in France.

Fury has been building in Europe after it became clear that U.S. President Joe Biden’s Inflation Reduction Act — a $369 billion package for green industry — could drain investment out of the EU and into the U.S. Big car-making nations like France and Germany complained that the U.S. law was potentially illegal for discriminating against foreign companies in the electric vehicle sector and encouraging consumers to “Buy American.”

Le Maire’s move is France’s counter-strike to prevent the flight of industry out of Europe — a fear that has only been compounded by the fact the EU is facing far higher energy costs than the U.S., partly because of the war in Ukraine.

During a state visit to the U.S. in December, French President Emmanuel Macron said the U.S. green subsidies were “super aggressive” and made the case that European allies should receive the same treatment as American companies.

While the U.S. has made some concessions on tax credits for electric cars, France has argued these are insufficient and the EU needs to roll out its own subsidies package.

In the meantime, the government is looking to press ahead with its own national scheme.

On Wednesday, Le Maire said the new bill would include a wide range of incentives to encourage green industries to stay or bring back production plants to France.

“In the coming days, I will propose a bill on green industries … that will include tax, regulation and legislative measures to accelerate the installation of industrial sites in France,” said Le Maire during an interview on French radio France Inter.

France is hoping to accelerate its own national response in several areas such as “green hydrogen, electrolysis, electric batteries production, nuclear energy and renewable energies,” according to Le Maire.

“Let’s take advantage of this moment … to become the leading decarbonized nation in Europe,” he said. No figures however have yet been announced.

On Wednesday, Le Maire also said he and his German counterpart Robert Habeck were pushing to get EU partners to adopt “a European Inflation Reduction Act” which would include “bigger, swifter and more simplified subsidies” for green industries.

EU leaders have so far agreed to ask the European Commission to come up with proposals to make the bloc more competitive in the face of the green subsidy spurge in the U.S. These are expected to be discussed at a European Council summit in February.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
×