The future of the planet and the global economy are entwined in a potentially risky geopolitical game.
"Questions are being asked in many [European] companies right now. Where are the incentives? Businesses are shutting down. New investments are being made in the US."
Mr Le Maire also wouldn't rule out the idea of Europe launching its own "Buy European" subsidies for green tech in response. "There will have to be a response from the European Union and that will almost certainly involve providing state aid and subsidies to European businesses. The difficulty with that is you end up in a subsidy war, a subsidy competition," he said.
"Which is why we don't just have the world's largest offshore windfarm, we've got the second largest and the third, the fourth and we've got another coming along that's biggest still." The reassurance has been that this was all aimed at China not Europe. But there is no doubt that the heads of major European manufacturers are being turned. And while the needs of net zero do tend towards more of Europe's manufacturing being done in Europe, and likewise for North America, there is a red line that shouldn't be crossed, according to one European leader.
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