Emmanuel Macron criticized Donald Trump’s decision to impose reciprocal customs rights to practically all countries, describing him as “brutal” and “unfounded” and demanding a temporary stop of future European investments in the United States.
The break should last “until we clarify things with the United States,” according to Macron.
“What would be the message of having great European actors to invest billions of euros in the US economy while attacking?” Macron said during a meeting with representatives of the French industry.
“We need collective solidarity.”
During his speech, Macron did not hold against the unprecedented initiative of Trump, which will reach the European Union at a rate of 20% from April 9. Separately, the block will face 25% rates in steel, aluminum and cars exports that are already in force.
Macron was incredulous with Trump’s expectation that the imposition of high rates will help the United States reduce the deficits they have with commercial partners, including the block.
The formula with which the White House calculated the rates was widely criticized.
By 2023, the EU registered a surplus of goods with the US.
“The decision announced last night is brutal and unfounded. It is unfounded because commercial imbalances cannot be corrected by imposing tariffs,” he said.
“The foundations of economic theory show otherwise, especially when imbalances do not take into account digital services.”
Macron predicted that reciprocal rates would be immediate and unsustainable for the US economy, which makes US companies and “weaker” and “poorer” citizens.
Macron also spoke of consequences for Europe that would be “massive” and reverberate in “all sectors” of the economy.
Given an “unprecedented” challenge, the EU is expected to take advantage of its unique market of 450 million consumers and provide a “strong and resolved,” Macron said.
The European Commission has expressed its availability to retaliate against customs rights, but warned that priority should be granted to negotiations.
“Nothing is excluded. All instruments are on the table,” Macron said, echoing the words of the president of the European Commission, Ursula von der Leyen, earlier this week.
ADVERTISINGOne of these options, said the French leader, could involve the activation of the instrument that the EU has to combat cases of economic coercion. If activated, this instrument can impose customs rights, restrict services trade and limit access to direct foreign investment and public contracts.
This instrument has never been used since its entry into force in 2023.
Macron also raised the possibility of reprisals against “extremely important” digital services in the United States, as well as “the economy financing mechanisms of the United States, without explaining what kind of reprisal would imply.
“We should not exclude anything in the short term,” he said. “We have to do the most effective and more proportional, but anyway, this is very clearly determined that we are not determined not to let things happen, not have sectors that are victims of these rates and, therefore, defend and protect ourselves.”
ADVERTISINGDuring his inflamed speech, the president warned about the shock waves that Trump’s reciprocal tariff For Cambodia.
China will be the objective of a 34%reciprocal rate, which will join a 20%rate announced above, that is, a total of 54%.
The levels are so prohibitive that Brussels fear that Asian countries, which depend on exports, send their products to Europe as an alternative market.
China is particularly worrying, since it is already being an intense scrutiny by flooding the West with low -cost and strongly subsidized products. The Commission declared that strict surveillance would begin to detect any sudden change in trade.
ADVERTISING“Seeing the US market, at least with 30% to 40% of customs rights, (these countries) will redirect their flows to Europe,” Macron said.
“It is not necessarily something that we will see immediately (but) something we are preparing for.”
