By Michel Rose and John Irish PARIS (Reuters) – French President Emmanuel Macron will be hosted by U.S. President Joe Biden next week in a rare state visit aimed at highlighting Franco-American friendship rather than the bitter economic competition between the two sides of the pond. More than a year after Washington, London and Canberra torpedoed a big French submarine contract, pushing Franco-US relations to breaking point, the two countries are expected to put on a show of unity on common threats from Russia and China. But the elephant in the Oval Room will be the U.S. Inflation Reduction Ac…