Macron calls Elon Musk oversubsidized and urges Europe to support its own industry

French President Emmanuel Macron criticized Elon Musk, calling him 'over-subsidized' and argued that Europe needs to support its own companies to compete with the United States and China. He said Europe faces 'extremely strong' competition and that American trade threats are not over.

Macron also pushed for a 'European preference' in strategic sectors and for the EU to issue more common debt, known as Eurobonds, to fund investments. German officials, including Friedrich Merz, pushed back against the debt proposal, calling it a 'distraction,' but the two leaders agreed on the need for economic reforms. Macron set a June deadline for the EU to agree on an economic relaunch plan.