Emmanuel Macron criticized Donald Trump’s decision to impose mutual customs rights to almost all countries, qualifying him as “cruel” and “unreasonable” and demanding a temporary stop of future European investments in America.
The break should last “until we clarify things with the United States,” according to Macron.
“What would it be to have great European actors to invest thousands of euros in the US economy when they attack?” Macron said during a meeting with representatives of French industry.
“We need collective solidarity.”
During his speech, Macron was not restrained against the unprecedented initiative of Trump, which will reach the European Union at a speed of 20% from April 9. Separately, the block will face 25% on the export of steel, aluminum and cars that are already valid.
Macron was incredulous, waiting for Trump that imposing high bets will help the United States reduce the deficit that they have with business partners, including the block.
The formula with which the White House hoped that the bets were widely criticized.
By 2023, the EU registered an excess of goods from the United States for 156.6 billion euros, but a shortage of services in the amount of 108.6 billion euros.
“The decision that was announced last night is cruel and unreasonable. This is unreasonable, because a commercial imbalance cannot be corrected by introducing tariffs, ”he said.
“The basics of economic theory show otherwise, especially when the imbalance does not take into account digital services.”
Macron predicted that mutual tariffs would turn out to be direct and unstable to the US economy, which would make us companies and “weaker” and “more poor” citizens.
Macron also spoke of the consequences for Europe that would be “massive” and would be reflected in all sectors ”of the economy.
Given the “unprecedented” problem, it is expected that the EU will use its only market of 450 million consumers and will give “one, strong and decisive,” Macron said.
The European Commission expressed its accessibility in order to respond to customs rights, but warned that priority should be reduced to negotiations.
“Nothing is excluded. All tools are on the table, ”said Macron, repeating the words of the President of the European Commission Ursula von der Leyen at the beginning of this week.
One of these options, the French leader said, can turn on activation tool that the EU should fight the cases of economic coercion. In case of launch, this tool may impose customs rights, limit the trade in services and limit access to direct foreign investments and state contracts.
This tool has never been used since its entry into force in 2023.
Macron also increased the possibility of retaliation against “extremely important” digital services from the United States, as well as “US economy financing mechanisms, without explaining what retaliation this implies.
“We should not exclude anything in the short term,” he said. “We must do what is the most effective and more proportional, but in any case, it is very clearly defined that we are not determined to prevent things that happen without the sectors that are victims of these tariffs and, therefore, protect ourselves and protect ourselves.”
During his inflamed intervention, the president warned of shock waves that Trump’s mutual tariffs could be caused in Asian countries that were achieved with higher indicators than the block: 24% for Malaysia, 26% for India, 36% for Thailand, 46% for Vietnam, 48% for Laos, 48% for Laos and Laos and Laos and Laos and Laos 49% for Cambodia.
China will become a 34%mutual tariff that will join 20%previously declared earlier, that is, a total of 54%.
The levels are so prohibitively high that Brussels fears that the Asian countries, which depend on exports, send their products to Europe as an alternative market.
China is especially worried, because it is already strong control, flooding the West with a low level and strongly subsidized products. The commission stated that it would begin close observation in order to detect any sudden changes in trade.
“Having looked at the American market, at least from 30-40% of customs rights (these countries) will redirect their flows to Europe,” Macron said.
“This is not necessarily what we will see immediately (but) what we are preparing for.”