Beautiful Virgin Islands

Thursday, Jun 05, 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
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
Majority of French Voters View Macron's Presidency as a Failure
Hungary Partners with China to Boost Electric Vehicle Production
‘Vibe Coding’ Emerges as the New DIY Trend
AI Pioneer Yoshua Bengio Warns Models Can Deceive Users
Big Four Firms Rush to Create AI Auditing Systems
Musk’s xAI Pursues $113 Billion Valuation in New Share Sale
Walmart Increases Revenue Despite Shrinking Workforce
Hims & Hers Plans UK and EU Launch of Replica Obesity Drugs
Toyota to Acquire Supplier in $33 Billion Buyout
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
×