Inflation Reduction Act should cover most possible EU companies – Frances Le Maire

Inflation Reduction Act should cover most possible EU companies - France's Le Maire

WASHINGTON (Reuters) – Europe aims to score a deal whereby as many European companies as possible benefit from the provisions of the U.S. Inflation Reduction Act, French Economy Minister Bruno Le Maire said before meetings with U.S. officials in Washington.

Speaking before talks which he and his German counterpart Robert Habeck are holding during their trip across the Atlantic, Le Maire said they were there to protect the interests of all European industry.

“(The point) is to have the maximum of European components being included in the framework of the Inflation Reduction Act so they can be included in the tax benefits and subsidies that will be given to American products,” he said, mentioning electric vehicles, batteries and critical raw materials.

(Reporting by Christian Kraemer and David Lawder, writing by Thomas Escritt, editing by Rachel More)