France wants concessions from US

The French finance minister Bruno Le Maire said that we shouldn't underestimate the impact of the Inflation Reduction Act. French President Emmanuel Macron has been very clear. We want to get some concessions from the US administration. We want to get some exemptions because we are friends and allies. He said he had spoken to his opposite number in the Biden ministry, Climate Envoy John Kerry, and Mr Shapps said much of what the US is doing is welcome. The bits that could affect us, the protectionist bit, are the edges that need to come off this new bill. What does the US think?

The reassurance has been that this was aimed at China, not Europe. There is no doubt that major European manufacturers are turning their heads. One European leader said that there is a red line that shouldn't be crossed because of the needs of net zero in Europe, and that there is a red line that shouldn't be crossed.