It looked like the start of a transatlantic trade war over climate policy.
As U.S. President Joe Biden hosted his French counterpart in Washington on Dec. 1, not long after finalizing a $369 billion green tax-break bonanza, there was a rupture in the usual diplomatic cooperation on global warming. Just a day earlier, and in front of U.S. lawmakers, French President Emmanuel Macron criticized protectionist features of the Inflation Reduction Act (IRA) that would be ¡°super aggressive¡± toward European businesses.
Some of those European companies ¡ª first in private and later in public ¡ª have since then started making noise about the wave of American money.
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