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France Accuses US of Pursuing China-Style Industrial Policy

  • Le Maire says no limits to EU response to US climate law
  • Germany’s Habeck says united with France in response to US
Bruno Le Maire
Bruno Le MairePhotographer: Valeria Mongelli/Bloomberg

French Finance Minister Bruno Le Maire said Joe Biden’s climate law shows the US has adopted an industrial policy that echoes a Chinese model of major subsidies to boost domestic production.

The European Union, which is sending a taskforce to Washington next month to lay out its concerns over the Inflation Reduction Act, must look at all options to defend its own industry, he said at a news conference in Paris alongside German Economy Minister Robert Habeck.