Europe needs robust response to U.S. inflation reduction act – Le Maire

PARIS (Reuters) – Europe needs to provide a robust response to the U.S. Inflation Reduction Act (IRA), French Finance Minister Bruno Le Maire said at a joint news conference with his German counterpart Robert Habeck.

“Europe must defend its interests,” Le Maire said.

European industries fear that the IRA bill, which gives tax credit for each eligible component produced in a U.S. factory, would take away potential investment from the continent.

(Reporting by Leigh Thomas; Writing by GV De Clercq. Editing by Jane Merriman)