France may have a decrease of 0.5 percent of gross domestic product growth as a result of US President Donald Trump’s customs policy, Prime Minister François Bayrou said on Saturday (5).
“The Trump policy can cost us more than 0.5 points in our GDP,” Bayrou said, according to excerpts published in an interview with Le Parisien. “The introduction of these outrageous customs will lead to a global crisis … The risk of loss of jobs is significant, as is the economic slowdown,” he said.
Calls in Europe
According to Trump’s plans that were announced on Wednesday (2), France is the subject of a general interest rate of 20%, along with other EU countries.
After talking to Britain’s Prime Minister Keir Stmerer, French President Emmanuel Macron said early on Saturday that the two countries confirm determination to “closely coordinate” positions in customs discussions with Trump.
“A trade war is not in anyone’s interest. We should keep united and decided to protect our citizens and companies,” he said in Elon Musk’s social network, an ally Trump.