France and US agree on need to coordinate on global economy

United States of America – Conversation between M. Bruno Le Maire, Minister of the Economy, Finance and the Recovery, and Ms Janet Yellen, Secretary of the Treasury – Communiqué issued by the Ministry of the Economy, Finance and the Recovery

Paris, 28 January 2021

Bruno Le Maire, French Minister of the Economy, Finance and the Recovery, spoke on the telephone today to Janet Yellen, United States Secretary of the Treasury, following the bilateral call French President Emmanuel Macron and US President Joe Biden had on Sunday.

During the conversation, Bruno Le Maire warmly congratulated Treasury Secretary Janet Yellen on being appointed and taking office. They both confirmed their desire to step up links between their administrations and noted many similar priorities, in particular on the climate, international trade and cooperation within multilateral forums.

Bruno Le Maire and Janet Yellen spoke about the health situation and its impact on economic players and households. They agreed on the need to coordinate national responses to revive the global economy and to work on this in particular within the framework of the G7 and G20. Bruno Le Maire and Janet Yellen also agreed on the need to find multilateral solutions to the challenges facing the global economy, including with regard to fairly and equitably taxing multinational firms. The Minister welcomed the Treasury Secretary’s commitment to active participation by American teams in OECD discussions on taxation, with a view to an international agreement in the first half of the year.

Finally, they mentioned the need to reduce trade tensions, which have a negative impact on growth, especially between the United States and Europe. The Minister insisted in particular on the very penalizing nature of the sanctions on French wine growers. The Minister will visit Washington DC as soon as the health conditions allow it./.

Published on 29/01/2021

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