Emmanuel Macron will host a dinner with top European business leaders on Monday to urge them to invest at home as the French president tries to counter the lure of new climate laws that may boost the appeal of the US, according to Bloomberg.
Guests will include 49 chief executive officers and chairs of companies such as Engie, Orange, Ericsson, Unilever, AstraZeneca, Volvo, BMW, Air Liquide and Solvay, according to a Macron aide.
“We will remind them that we are going to Washington in a few days and we are going to defend French and European interests in the face of the Inflation Reduction Act, that is the American legislation that allows for the exclusive defense of American companies,” French Finance Minister Bruno Le Maire told France Inter radio.
Macron has criticized Joe Biden’s climate laws over concerns billions of dollars in incentives for renewable energy firms, combined with lower energy prices, may influence investment decisions. He has pledged to raise the issue during a state visit to the US at the start of next month.
Le Maire will meet with his German counterpart, Christian Lindner, in Paris on Monday to discuss how to coordinate a response to US energy policies and align aid to companies struggling with higher power prices.