French Finance Minister Bruno Le Maire called on the European Union to stand up to the United States, saying Washington is subsidizing its companies under a recent law that offers large tax breaks to buyers of American-made electric cars, Politico reported.
In an interview with four European media outlets, including the French business publication Les Echos, Le Maire lamented U.S. trade policies, saying that “our industry is already suffering from a competitiveness deficit linked to the differences in energy prices between the United States and Europe.” According to Le Maire, competition from China as well as the U.S. Inflation Reduction Act are likely to widen the gap.
He called for a “coordinated, united and strong response by the European Union vis-à-vis our American allies,” adding: “Only firmness will allow us to achieve results.”
Le Maire did not rule out filing a complaint with the World Trade Organization against the United States. He said that “Europe must defend its interests” as it cannot expect any gifts from China or the U.S. itself.
The transatlantic spat erupted after the U.S. passage of the Inflation Reduction Act, a huge tax, climate and health care package that some European leaders call protectionist.
Asked whether France would also block aid for electric cars not manufactured in its territory unless a decision was made at the European level, Le Maire said: "We are not ruling anything out."

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