French President Emmanuel Macron said Friday that U.S. trade and energy policies have led to a “double standard” as Europe is willing to pay higher natural gas prices.
France is the last and largest country to withdraw from the Energy Charter Treaty. After problems with its nuclear fleet, the country went from being a net exporter to a net importer of energy last year.
To compensate for its shrinking nuclear fleet and cessation of natural gas imports from Russia, France turned to U.S. LNG.
U.S. natural gas exports to France increased 421% in the first eight months of 2022, but the value of LNG increased 1094% in August due to higher LNG prices.
“The North American economy is making choices for the sake of attractiveness, which I respect, but they create a double standard. In addition, they allow state aid going to up to 80% on some sectors while it’s banned here – you get a double standard. It comes down to the sincerity of transatlantic trade,”Macron said at a press conference in Brussels on Friday.
Macron is scheduled to visit the U.S. in early December, mainly to discuss energy issues.