The US government wants to boost its own economy with a special subsidy package. Federal Finance Minister Lindner irritates US President Biden's "enormously protectionist economic policy". But he also rejected corrections during the visit of the French head of state Macron.
Federal Finance Minister Christian Lindner criticizes the US economic policy with regard to the US anti-inflation law - and at the same time warns of a trade war with the United States. "The USA is our value partner, but at the same time there is an enormously protectionist economic policy," Lindner told the "Welt am Sonntag". The federal government must therefore represent German interests in Washington and point out the negative consequences for the Federal Republic.
Unlike the French economy, however, the German economy is closely linked to the American market. "Therefore, Germany cannot have any interest in a trade war, but must rely on economic diplomacy," Lindner continued. The US inflation control law provides for billions in investments in climate protection. Subsidies and tax credits are tied to companies using US products or manufacturing in the US.
There is much criticism of this in Europe. French President Emmanuel Macron also raised the issue during his state visit to the United States. He warned that the law would create such disparities that many companies would no longer invest in Europe - which threatened to split the West.
However, the White House rejected subsequent changes to the law during Macron's visit. "We have no plans to ask Congress to change the law," said White House spokeswoman Karine Jean-Pierre. However, we are working with European partners to take their concerns into account. Exactly how this is supposed to happen remains unclear.
US President Joe Biden defended the law in general. He made it clear that he would not deviate from the course of making the USA less dependent on international supply chains. But Biden said there are minor flaws in the law that could be discussed and resolved.
In the "Welt" interview, Lindner advocated taking the US law as an opportunity "to improve our competitiveness. If you look at it clearly, you have to realize that constantly increasing EU requirements for the economy in connection with energy prices are just as dangerous like the distortion of competition in the USA". Federal Minister of Economics Robert Habeck had announced a "robust response" by the European Union to the US law.