“We intend to implement these provisions and look forward to dialogue,” added Mr. Pode allow. “But we believe that these will not only be the drivers of the US economy, but will ultimately bring huge benefits around the world as we drive down the price of clean energy and clean energy technology.”
In its talks with Europeans, the Biden administration has focused on the other benefits of the new climate legislation for global businesses, as well as emphasizing the need for cooperation to fight climate change, people familiar with the talks said.
Privately, US officials and business leaders have also pointed to recent situations where the Europeans took protectionist trade stances that thwarted other governments, such as the EU’s carbon border adjustment mechanism and a proposed digital tax.
“It is rich that President Macron criticizes the United States for not coordinating with Europe, while Brussels has steadfastly refused to discuss a long list of rules that threaten to discriminate against American companies,” said Jake Colvin, the chairman of the National Foreign Trade Council. . representing large multinational companies.
The division over the auto industry comes as the United States is also seeking Europe’s help in restricting the types of advanced technology China has global access to, particularly the machines for producing advanced semiconductors marketed globally by the Dutch company ASML.
Senior US officials have flown to Europe in recent weeks to pressure EU officials and business leaders to join with the United States in severely restricting exports of semiconductor technology to China, arguing that China’s access to such technology poses a threat to constitutes national security.
Meeting with Mr. Le Maire at the Group of 20 summit in Bali last month, Ms. Yellen noted that America’s relationship with France is critical at such a critical time for the global economy. She said she was open to the concerns Europeans have about the Inflation Reduction Act and, if possible, she tries to address them within the confines of the law passed by Congress.
“France is America’s oldest friend and ally, and we look forward to building on our very strong relationship,” said Ms. Yellen.
Zolan Kanno-Youngs reporting contributed.
