French official cites Inflation Reduction Act concerns, USTR says

French Finance Minister Bruno Le Maire on Monday raised concerns over certain provisions of the Inflation Reduction Act in a meeting with United States Trade Representative (USTR) Katherine Tai, the USTR office said.

Europeans say the massive spending package to protect U.S. manufacturers could deal a lethal blow to their industries, which are already reeling from high energy prices caused by Russia's invasion of Ukraine.

"Ambassador Tai and Minister Le Maire agreed that the U.S. and European Union should work together to deepen the bilateral understanding of the legislation," the USTR's office said in a statement after the virtual meeting between the French minister and Tai.

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