During a state visit to Washington on Tuesday, Emmanuel Macron’s plea for Joe Biden to reconsider the spirit of a law passed in August to create the most American electric car industry possible is far from winning.
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The Inflation Reduction Act, which excludes non-U.S. automaker models from the $7,500 tax credit given to electric car buyers, is far from isolated. Many other provisions in the $430 billion legislative package, particularly massive aid to industries that are moving their supply chains back to the U.S., could create “a significant shift in output and future investment that threatens employment and economic growth in Europe and elsewhere“, – regrets the Brussels Commission.
Alas for the Europeans, the text of the Deflation Act, the marriage model of “ecological progressivism” with industrial nationalism…
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Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.