The European Commissioner for the Internal Market, Thierry Breton, calls for the creation of a "
European sovereignty fund to support industrial projects
" and to deal with the American Inflation Reduction Act (IRA), criticized by Emmanuel Macron during his visit in the USA.
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The European Union has been concerned for several months about the effects of this 420 billion dollar plan by American President Joe Biden largely devoted to the climate and adopted last summer, at the heart of an official visit by Emmanuel Macron across the Atlantic. the last days.
This plan provides, among other things, for reforms favoring companies established in the United States, particularly in the sectors of electric vehicles, batteries, tech, renewable energies and even hydrogen.
“Super aggressive” measures
It "
causes distortions of competition at the expense of companies in the European Union
", says Thierry Breton in an interview with the Sunday newspaper, after having threatened at the beginning of November to "
go before the World Trade Organization (WTO)
" to put forward his arguments.
“
A working group has already been created with representatives from the White House and the European Commission,
” he adds.
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Emmanuel Macron said on Friday that he wanted the question of the "
exemptions
" demanded in the United States for European industries to be "
settled
" by the first quarter of 2023 after having judged the day before "
super aggressive
" some of the American measures.
The American president said he was ready to correct the “
defects
” of his law, which he however defended tooth and nail.
“
After the overtures obtained in Washington by the President (Macron), I am confident that the efforts of the European Union will bear fruit.
Quicker than you think, I hope.
Maybe in the next few days!
“Adds Thierry Breton in the
JDD
.
A “too heavy” regulatory framework
On the other hand, the Commissioner underlines the need for Europe to improve its attractiveness and its competitiveness by focusing on "
technology and strategic sectors for the success of its green transition
", in particular wind turbines, solar energy and networks. electricity and by adapting a regulatory framework that is "
too cumbersome
".
Faced with the energy crisis, American competition and Chinese economic policy, he advocates “
a European sovereignty fund to support industrial projects
”, without forgetting the national plans “
to be coordinated
”.
Emphasizing the different debt conditions depending on the States, Thierry Breton finally asserts that “
we should probably consider financing around 2% of the GDP of the European Union, or around 350 billion euros
”.