A war of words has erupted between French President Emmanuel Macron and tech billionaire Elon Musk, highlighting a deepening divide over how governments should support their industries.
Speaking at a major industrial summit in Antwerp, Belgium, on Wednesday, Macron utilized the American entrepreneur as a prime example of why Europe necessarys to modify its economic strategy. The French leader argued that the United States has successfully utilized public money to build private giants, specifically pointing to Musk’s sainformite internet company, Starlink.
Macron Calls for ‘Buy European’ Strategy
During the high-profile meeting, Macron did not hold back. He informed the audience that while people are ‘fascinated’ by Musk’s achievements, they must also be realistic about how he achieved them. ‘If you are lucid, Mr Musk is probably one of the guys of the world who has had in his pockets the most… billions of dollars of the American taxpayers in order to be subsidised,’ Macron stated. He went on to label Musk as an ‘oversubsidised guy’, thanks to support from federal agencies in the US.
The President utilized this claim to push for a ‘Buy European’ approach. He believes the European Union should take on joint debt—borrowing money toreceiveher as a bloc—to fund massive investments in local industries. According to Macron, this is the ‘only way’ for Europe to compete with rivals like the United States and China, who are heavily funding their own businesses.
If you add up all the government funding Tesla and SpaceX have ever received, it is only about 1% of the combined value of the companies.
In contrast, if you do that with US and European major aerospace companies, the government money they have received *exceeds* 100% of their…
— Elon Musk (@elonmusk) February 11, 2026
Musk Rejects Claims on Social Media
Elon Musk, never one to stay silent, quickly responded on his social media platform, X. He firmly rejected the idea that his companies are propped up by the government. ‘If you add up all the government funding Tesla and SpaceX have ever received, it is only about one per cent of the combined value of the companies,’ Musk wrote.
He then turned the accusation back on Europe. Musk claimed that major European aerospace companies are the ones relying on state aid. ‘In contrast, if you do that with US and European major aerospace companies, the government money they have received exceeds 100 per cent of their value!’ he argued. This sharp exmodify underlines the tension between US and European economic models.
European Leaders Gather in Antwerp
The clash between Macron and Musk happened against the backdrop of a critical gathering in Antwerp. Europe’s political heavyweights, including German Chancellor Friedrich Merz, Belgian Prime Minister Bart De Wever, and European Commission President Ursula von der Leyen, met with top industrial leaders. The goal was to prepare for a formal competitiveness summit later this week.
The atmosphere at the meeting was serious. European companies are struggling with high energy costs, trade tariffs, and fierce competition from China. The balance of power is shifting, and industest leaders are demanding that politicians take action to stop the continent’s factories from closing down.
Fighting ‘Red Tape’ and ‘Gold Plating’
Ursula von der Leyen utilized the summit to outline her plan for a simpler business environment. She highlighted a major problem known as ‘gold plating’. This happens when individual member states add their own national rules on top of existing EU laws. This creates extra layers of regulation that create it expensive and confutilizing to do business across borders.
According to estimates from the International Monetary Fund (IMF), these internal barriers act like hidden tariffs. They can add costs equivalent to 45 per cent on goods and over 100 per cent on services. Mrs von der Leyen argued that the single market is Europe’s greatest asset, but it is being held back by this excessive bureaucracy.
A Push for an Industrial Deal
The meeting in Antwerp was more than just a photo opportunity. It was linked to the ‘Antwerp Declaration’, a document backed by over 1,000 companies. These businesses are calling for a European Industrial Deal to save the sector. They warn that without lower energy prices and predictable rules, Europe risks ‘deindustrialisation’—a process where factories close permanently or relocate to other parts of the world.
While Macron pushes for more spfinishing and joint debt, other leaders like Chancellor Merz and Italian Prime Minister Giorgia Meloni are focutilizing on cutting rules. They want a more pragmatic approach to climate regulations to ensure that saving the planet does not mean killing the economy. As the formal summit approaches, the pressure is on to turn these talks into real action.
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