By Joan Faus
BARCELONA – America’ efforts to spice up inexperienced know-how mustn't indicate dismantling Europe’s trade, Spanish Prime Minister Pedro Sanchez stated on Thursday after signing a brand new bilateral treaty with French President Emmanuel Macron in Barcelona.
The treaty calls on each international locations to assist the adoption of measures to guard European corporations in opposition to financial coercion and unfair practices, in addition to an “bold European industrial coverage aimed toward strengthening the EU’s strategic autonomy and restoration capability”.
The references to industrial coverage come amid an intense debate throughout the European Union on how to answer authorities assist measures underneath the U.S. Inflation Discount Act (IRA).
EU international locations concern the IRA will unfairly drawback their corporations as a result of most of the subsidies solely go to merchandise, resembling electrical automobiles, which are inbuilt North America.
“We welcome the truth that the U.S. is becoming a member of the inexperienced transition, however we have now to achieve an settlement in order that this transition doesn't result in the deindustrialisation of Europe,” Sanchez instructed a joint information convention with Macron.
The Spanish authorities stated the brand new friendship and cooperation treaty elevated bilateral ties to a stage that Spain solely has with Portugal, and consistent with the same French-German treaty.
The perimeters additionally agreed to work collectively for a stronger European defence in pursuit of EU’s strategic autonomy – an concept long-advocated by Macron – whereas stressing that the technique would go hand-in-hand with NATO membership.
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