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France and the European Commission are discussing ways to respond to the new trade duties announced by former US President Donald Trump. In response to these actions, French President Emmanuel Macron called on European companies to suspend investments in the US economy. This was reported by Bloomberg.
In a speech on 3 April to representatives of the industries most affected by the new US tariffs, Macron said that there was no point in continuing to invest in a country that was openly “attacking Europe”.
“What kind of signal do we send when major European players investing billions in the US economy are at the same time striking us? We must have collective solidarity,” the French President stressed.
According to The Guardian, Macron agreed with the position of EU leaders that “nothing can be ruled out” in response to Trump’s actions. “All the tools are on the table,” he said, stressing that the EU has a full set of economic levers to respond, particularly in the field of digital services, where the US, according to the president, “benefits enormously from Europe”.
Macron also called on EU leaders to remain united and not act alone in the face of growing trade pressure from the United States.
As a reminder, on 2 April, Donald Trump announced the introduction of tariffs on imports to the US, ranging from 10% to 50% depending on the country of origin. European Union countries will receive a 20% tariff on exports to the US. The lowest tariff of 10% will apply to Ukrainian goods.
European Commission President Ursula von der Leyen has already said that the EU is preparing retaliatory measures, stressing that the US decisions are “unacceptable and unilateral” and threaten global economic stability.
