French President Emmanuel Macron has urged French businesses to suspend all their investment projects until there is more clarity from Washington regarding the heavy import tariffs announced by Donald Trump on Wednesday.
Trump’s announcement to impose a 20% tariff on European imports is, according to Macron, “brutal and unfounded.” He believes the decisions made will weaken and impoverish the US economy and citizens, whether companies or individuals.
Macron has called for European unity. In response to the tariffs, he considers “all options on the table,” including suspending investments in the United States.
“It is important that upcoming investments or those announced in recent weeks are put on hold until matters with the United States are clarified,” Macron said during a meeting with representatives of the most affected French sectors.
“What message would we be sending if major European players invest billions of euros in the American economy while they are undermining us?” Macron added.
The French President suggested the Europe's response should come in two stages.
“The first response is due by mid-April and concerns the already decided tariffs, particularly on steel and aluminium,” he said. “A more extensive second response should follow at the end of the month, after a detailed study of each sector in light of Wednesday’s announcement.”
Representatives of major export sectors and employer organisations participated in the meeting at the Élysée Palace, alongside Prime Minister François Bayrou and the relevant ministers.
