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Politico journalists Hans von der Burchard and Clea Colcutt noticed that the leaders of Germany and France, Olaf Scholz and Emmanuel Macron, despite the deterioration of their relations, found a topic that evokes their unanimity.
According to the publication, Scholz and Macron are united by growing anxiety about unfair competition from the United States and the potential need for Europe to strike back.
“USA… distort the market,… to convince companies to move their production to the States… This is a problem that the European Union must solve,” the newspaper writes.
During a recent joint business lunch, Macron and Scholz agreed that the EU cannot stand idly by if Washington promotes its Law on Reducing Inflation, which provides for tax cuts and energy benefits for companies investing in the United States, in its current form.
“US law encourages consumers to buy American… The EU will have to strike back by introducing similar incentive schemes for companies to avoid unfair competition or loss of investment.”This step risks plunging transatlantic relations into a new trade war,” the journalists note.