Macron calls for suspension of investment in US until tariffs clarified

Macron said that the tariffs were "brutal and unfounded". Photo: Mohammed BADRA / POOL/AFP
Source: AFP

French President Emmanuel Macron connected Thursday called for a suspension of concern successful the United States until Donald Trump's "brutal and unfounded" caller tariffs against Europe and the remainder of the satellite were clarified.

"Future investments, investments announced successful the past weeks, should beryllium suspended for a clip for arsenic agelong arsenic the concern with the United States is not clarified," Macron told a gathering of French companies besides attended by French ministers and Prime Minister Francois Bayrou.

"What would beryllium the connection if large European actors put billions of euros successful the US economy astatine the precise infinitesimal they are hitting us?" helium asked.

Macron said Americans volition beryllium "weaker and poorer" aft Trump's tariff announcement, which helium described arsenic "brutal and unfounded" and would person a "massive impact" connected the European economy.

He besides called connected Europe to basal unneurotic successful presumption of their response, informing against immoderate unilateral action.

Europeans "need to stay agreed and determined successful this phase. And I accidental this besides due to the fact that I cognize what can hap -- the biggest players person a inclination to spell it alone, and that's not a bully idea," helium said.

France, with sectors ranging from aerospace to luxury goods to vino risking taking a hit, has ever insisted that specified retaliation against tariffs needs to travel from the EU and not from idiosyncratic states.

Macron reaffirmed the French government's presumption that a "European response" would travel successful "two stages."

"The archetypal effect volition instrumentality spot successful mid-April and volition code the tariffs already decided, peculiarly connected alloy and aluminium," helium said.

"The second, much monolithic response, to the tariffs announced yesterday (Wednesday), volition instrumentality spot astatine the extremity of the period aft a elaborate study, assemblage by sector, and enactment with each subordinate states and economical sectors," helium said.

His comments followed Trump's "Liberation Day" tariff announcement successful which helium unveiled a wide swathe of caller levies affecting each US trading partners, including a 20 percent tariff for the European Union.

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Source: AFP