# U.S., France agreed to “fix” U.S. subsidies issues, says Macron Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-12-05 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Biden and Macron to 'fix' issues over U.S. subsidies Meta Description: President Biden and French President Macron are working to address concerns over subsidies for American-made products in the new $430 billion Inflation URL: https://financedigest.com/u-s-france-agreed-to-fix-u-s-subsidies-issues-says-macronhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-12-05t004204z1lynxmpeib400prtroptp4ukraine-crisis-macron-1736814770416-compressed.jpg) (Reuters) -President Joe Biden and French President Emmanuel Macron agreed during a state visit earlier this week to “fix” issues arising from U.S. legislation that includes subsidies for American-made products, Macron said in a bid to assuage European concerns. Biden’s Inflation Reduction Act is a new $430 [billion bill offering](https://www.financedigest.com/copper-miner-teck-resources-rejects-glencores-22-5-billion-offer.html "Copper miner Teck Resources rejects Glencore’s .5 billion offer") massive subsidies for U.S.-made products and aimed at addressing the climate [crisis and promoting renewable energy](https://www.financedigest.com/europes-energy-crisis-and-the-nuclear-path-out.html "Europe’s energy crisis and the nuclear path out"). But European leaders [say the legislative package is unfair to non-American companies](https://www.financedigest.com/anyone-can-write-assignment-need-people-able-apply-new-skills-workplace-says-top-investment-management-company.html "“Anyone can write an assignment, but we need people to be able to apply their new skills to the workplace,” says top investment management company") and would be a serious blow to their economies as Europe deals with the fallout from Russia’s February invasion of Ukraine. What we decided with [President Biden](https://www.financedigest.com/biden-arrives-in-south-korea-for-talks-with-president-yoon.html "Biden arrives in South Korea for talks with President Yoon") is precisely to fix this issue. And they are fixable,” Macron told CBS’ 60 Minutes in an interview released on Sunday. On Thursday, speaking alongside Macron, Biden said: “There are tweaks that we can make that can fundamentally make it easier for [European countries](https://www.financedigest.com/four-european-countries-call-for-special-treatment-of-defence-in-eu-debt-rules-document.html "Four European countries call for special treatment of defence in EU debt rules – document") to participate and or be on their own. (Reporting by Costas Pitas in [Los Angeles; Editing by Cynthia Osterman and Diane Craft)](https://www.financedigest.com/patsnap-circumnavigates-northern-hemisphere-with-launch-of-los-angeles-office.html "PatSnap circumnavigates northern hemisphere with launch of Los Angeles office") --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---