French President Emmanuel Macron will be hosted by U.S. President Joe Biden next week in a rare state visit aimed at highlighting Franco-American friendship rather than the bitter economic competition between the two sides of the pond.
More than a year after Washington, London and Canberra torpedoed a big French submarine contract, pushing Franco-U.S. relations to breaking point, the two countries are expected to put on a show of unity on common threats from Russia and China.
But the elephant in the Oval Room will be the U.S. Inflation Reduction Act (IRA). Europeans say the massive subsidy package to U.S. manufacturers could deal a lethal blow to their industries, which are already reeling from high energy prices caused by Russia's invasion of Ukraine.
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