French President Emmanuel Macron, on his second official visit to Washington, warned the US yesterday (Wednesday) that its programme of $430 billion in public investment and aid to help its businesses and fight inflation risked dividing the West.
During a speech to members of the French community in the country, at his country's embassy in the US capital, Macron also warned against the «risk» of Europe and France becoming «some kind of variable adjustment» to the rivalry between the US and China, the two biggest powers in the world.
On the first day of his official visit to Washington, Mr Macron preferred to express himself «without equivocation».
The French president told his compatriots at the embassy that «I said very frankly, very friendly (to American elected officials) (...) that what has happened in recent months is a challenge for us, because it is starting to shift to energy issues and the cost of the war (in Ukraine) is not the same in Europe and in the United States».
«But, above all, the choices made, whose objectives I share, especially the Inflation Reduction Act (IRA, social and environmental investment program for American companies), are choices that will cause fragmentation in the West,’ he added.
This law, according to Macron, creates such a big difference between the US and Europe that many in European companies will simply «say ‘we'll make more investments on the other side of the (Atlantic) ocean’».
During a meeting with US parliamentarians, he stressed that the measures promoted by Joe Biden's administration to stimulate US industry are «too aggressive» and called for better economic coordination on both sides of the Atlantic.
«These choices will not be able to work unless there is coordination between us, if we decide together, if we are in sync again,» Macron said.
The Inflation Reduction Act, with its climate and social spending pillars, provides for $430 billion-plus investments, including $370 billion to reduce greenhouse gas emissions by 40% by 2030, the largest effort ever made by the US in this area.
On the first day of his official visit to celebrate French-American friendship, President Macron noted that we must «strive together to rise to the height of our common history» so that the alliance between the two countries remains «stronger than anything else».
But he warned that «the danger is that in the face of the challenges of the times, the US will look first of all to the US, which is normal (...), then to the rivalry with China, and, in a way, Europe and France will become a kind of variable adjustment’ between the two major powers of the world.
Mr Macron, 44, and Mr Biden, 80, will hold talks today and then hold a joint press conference at 11:45 (local time - 18:45 GMT).
