Paris and Berlin announced a parallel plan in response to Washington’s announcement of providing financial assistance to developing countries to solve climate problems.
Germany and France expressed their support for “providing an industrial base in Europe, especially the important green industry”. And after the announcement of the US pledge to annually allocate 11 billion dollars to support the climate issue.
German Economy Minister Robert Habeck and his French counterpart Bruno Le Maire have proposed “targeted subsidies and tax cuts” for industrial sectors such as solar and wind energy, heat pumps and hydrogen production.
At the same time, the two ministers urged the European Commission to negotiate with Washington for European manufacturers to enjoy the same exemptions that the United States has granted to free trade partners Mexico and Canada.
European Commission President Ursula von der Leyen wrote to European leaders last week asking the bloc to amend its rules to help countries achieve an “unprecedented transition” from fossil fuels to green energy. This proposal reflects many of the ideas of the two largest economies in the European Union.
Source: Associated Press