European firms are concerned they could get caught in the cross-fire of rising economic rivalry between the United States and China, with some officials at a French business conference also frustrated at Europe's slowness in crafting a response.
Rising trade tensions between the two superpowers are adding to the problems facing politicians and executives as they face a European economy operating at close to standstill, and"We're keeping a particularly close eye on the current tensions between the U.S. and China," said Florent Menegaux, chief executive of French tyremaker Michelin.
"We're paying for the competition between the United States and China," Renault Chairman Jean-Dominique Senard said, in reference to the Chinese curbs, as Europe grapples with what he called aChina's show of force over the supply chain for key metals comes after years of strategic investments and shouldn't come as a surprise, said Christel Bories, chief executive of mining group Eramet"In the battery value chain, it's not just a question of controlling the chain,...
Attending the conference, Heather Boushey, a member of the White House Council of Economic Advisers, defended the IRA, saying the United States would stick with its trading partners even if it was rethinking its role in the global trading system.
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