France mulls U.S. anti-inflation exemptions but must act

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France mulls U.S. anti-inflation exemptions but must act

PARIS Reuters - France may try to negotiate some exemptions from the duties and limits imposed by the U.S. anti-inflation act, but Europe must act to protect the bloc's economic interests, Finance Minister Bruno Le Maire said on Sunday.

Le Maire will accompany French President Emmanuel Macron on a state visit to the United States next week.

Europeans say the massive subsidy package to protect U.S. manufacturers in the Inflation Reduction Act could be a deadly blow to their industries, which are already reeling from high energy prices caused by Russia's invasion of Ukraine.

France may ask for exemptions on some duties and limits imposed by the U.S. administration. What is the real question we need to ask is what kind of globalisation will be ahead of us? China favors Chinese production, America favors American production, and it is time that Europe favors European production. He said that all European states must learn to protect and defend their economic interests today in the face of these American decisions.