Comments

You must log in or register to comment.

ReturnToMonke234 t1_it8etni wrote

Can someone explain this like I'm stupid?
Green energy is good right?
Why would they be mad the US is investing in green energy?

13

autotldr t1_it8itcp wrote

This is the best tl;dr I could make, original reduced by 64%. (I'm a bot)


> Washington - France's foreign minister voiced alarm Friday over a massive US climate spending package, saying it risked unfair competition, but said Europe did not want a green trade war.

> Parts of President Joe Biden's Inflation Reduction Act, which will pump $370 billion into green energy, "From our point of view impact the level playing field between the US and European actors," Foreign Minister Catherine Colonna said at the Center for Strategic and International Studies in Washington.

> Her remarks echo German and French economic ministers who this week at a meeting in Berlin called for a strong response from the European Union against state support for US green businesses.


Extended Summary | FAQ | Feedback | Top keywords: France^#1 minister^#2 green^#3 state^#4 war^#5

2

TrueRignak t1_it8lxzf wrote

Green energy is good, but unfair competition is illegal as per the rules of the OECD (they can fund green energy, but they shouldn't use this funding to specificaly advantage US companies). The US usually doesn't care OECD's rules, UE does.

5

QuietRock t1_it8mal9 wrote

The article didn't specifically say, but I think if the US government heavily subsidizes green energy projects and products it could give them an unfair advantage in the global market. French green tech companies might then struggle to compete for business, which hurts their profits and growth.

12

ReturnToMonke234 t1_it8nmrr wrote

>they shouldn't use this funding to specificaly advantage US companies

Isn't it America's money though? Are they not allowed to subsidise domestic green tech companies too much or other countries will get mad?

8

Da_Vader t1_it8t84o wrote

Only if the domestic companies export subsidized products at a cost disadvantage to unsubsidized European manufacturers.

Right now all production will be for domestic consumption. But American companies will have superior technology over time such that in the future, they will be able to out bid other foreign competitors.

Same thing happens for US defense spending, but that, of course, they don't mind. At all.

12

MrBubbles226 t1_itaequx wrote

A green trade war is ultimately good for the planet, what a stupid take from the French

5

H_E_DoubleHockeyStyx t1_itahkbw wrote

Yeah fuck saving the world if it means some sort of economic impact/s

3

Rumpullpus t1_itassms wrote

Ehh luckily we have a habbit of selective hearing when it comes to the French. Anti-American as always.

1