French President Emmanuel Macron said on Thursday Europe needed an urgent response to the U.S. Inflation Reduction Act to ensure a future for its industry and welcomed the mandate given to the European Commission to come up with a plan early next year. "When you have two superpowers massively subsidise some sectors, you could decide not to do anything, to respect the rules and the purity of (free-market) doctrine … but nothing much will be left (in Europe) in the end," Macron said.
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