As Joe Biden Hosts First State Dinner For France's Macron, American Subsidies' Dispute Holds Sway

U.S. President Joe Biden will host his French counterpart Emmanuel Macron for a state dinner at the White House on Thursday amid tensions over new American subsidies.

What Happened: Macron will be the first foreign leader to be given a state dinner at the White House under President Biden. The two leaders are set to hold talks and then conduct a joint news conference on Thursday morning, the White House said. 

See Also: Xi Jinping’s Mouthpiece Slams India, US Joint Drill: Effort By ‘Third Party’ To Meddle In Border Affairs

Macron and his wife arrived in Washington on Tuesday for the second state visit since he was elected to the top office in 2017.

The two leaders also dined together at an Italian restaurant called Fiola Mare, on Wednesday, in the historic Georgetown area in a gesture of bonhomie.

During Thursday’s talks, Macron is expected to discuss Europe's rising concerns over the Inflation Reduction Act, signed by the U.S. President in August. The $430 billion bill that offers massive subsidies for U.S.-made products has riled Europe.

Macron, on Wednesday, addressed U.S. lawmakers and pushed back over new American subsidies, according to a participant in a closed-door meeting, reported Reuters. 

In a meeting with American politicians at the Library of Congress, the French leader said the IRA was “super aggressive” toward European companies. 

The U.S. president looks prepared to make no concessions. In a press briefing, White House Press Secretary Karine Jean-Pierre said the legislation “presents significant opportunities for European firms as well as benefits to EU energy security.”

Check out more of Benzinga’s Europe and Asia coverage by following this link.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPoliticsGlobalGeneralEmmanuel MacronEurasiaJoe BidenWhite House
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!