Inflation Reduction Act: France Wants to Counteract With Its Own Law

by | 4. Jan 2023 - 14:43 | Politics

French Finance Minister Bruno Le Maire wants to make green industry a priority. The politician announced in an interview with Radio France that he would present a draft law that includes changes to taxation and regulation, which would accelerate the development of a green industry. France could become the “great decarbonized nation” of Europe, Le Maire said. Bloomberg news agency (paywall) assesses the announcement as a response to the U.S. Inflation Reduction Act, which aims to advance renewable energy, as well as electric mobility made in the U.S., through extensive subsidies. The law, which came into force last August, is highly controversial in the EU, as European automakers fear massive disadvantages in the important American market.

Photo: iStock/lovelyday12

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