French Economy Minister Bruno Le Maire urged the US to be transparent in the distribution of aid under the climate plan, emphasizing the need to support “green” industries, subject to fair competition.
In an interview with Agence France Presse, Le Maire said that his visit to Washington with his German counterpart Robert Habek comes in the context of European fears about the impact of the inflation reduction bill and his $370 billion investment. in green energy at the expense of the future of industry.
He pointed out that Europe will become one of the three superpowers in the field of green industry, along with China and the United States.
He emphasized that the amounts allocated by Europe for the development of “green” industries are estimated at 400 billion euros, which exceeds what the United States has allocated in the same area, noting that France has allocated 54 billion euros for the implementation of the France 2030 project.
He noted that the European Commission is working on the implementation of a “compliance clause” to ensure that European countries do not lose the consequences of a green energy project.
He reaffirmed France’s support for the draft project presented by the European Commission, which envisages the creation of a European sovereign wealth fund.
Source: AFP.
