France, Spain Call for Joint Plan to Protect European Industry

Macron and Sanchez signed a cooperation treaty in Barcelona
Macron said there is no taboo in additional EU-wide debt

Emmanuel Macron, right, talks with Pedro Sánchez in Barcelona, on Jan. 19Photographer: Emilio Morenatti/AP

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By Ania Nussbaum and Rodrigo Orihuela

January 19, 2023 at 1:14 PM UTC

Updated on

January 19, 2023 at 3:18 PM UTC

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French President Emmanuel Macron said the European Union should quickly deploy new tools to overcome a stand-off with the US over industrial subsidies, adding that the issuance of more joint debt is “not a taboo.”

Macron and Spanish Prime Minister Pedro Sanchez agreed Thursday to support a joint EU instrument to respond to US President Joe Biden’s $370 billion green-investment plan, known as the Inflation Reduction Act.