French President Emmanuel Macron has called on European businesses to freeze investments in the United States in response to the latest round of tariffs imposed by the Trump administration. In a strong rebuke, Macron described the U.S. tariffs as "brutal and unfounded," emphasizing that Europe must stand together in "collective solidarity" to protect its economic interests.
Speaking at a meeting with French business leaders at the Elysée Palace, Macron said: "It is important that future investments, the investments announced over the last few weeks, should be put on hold for some time until we have clarified things with the United States."
He warned that continuing to invest in the US while facing trade restrictions would send the wrong message.
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Macron's remarks come in response to the Trump administration's decision to impose a 20% tariff on all E.U. exports to the U.S., a move that affects 70% of European exports and could generate an estimated €80 billion for the U.S.
Treasury.
The tariffs have sparked outrage across Europe, with other E.U. leaders condemning the decision as an "unprecedented" and "unilateral" attack on global trade norms.
European Commission President Ursula von der Leyen called the tariffs "a major blow to the world economy" and warned of "dire" consequences if the situation escalates. She assured that the E.U. is prepared to retaliate with countermeasures. Among the potential responses are tariffs on iconic American products such as blue jeans, orange juice, and Harley-Davidson motorcycles.
Hitting U.S. tech and defense sectors
In addition to retaliatory tariffs, Macron suggested that the E.U. could leverage its influence over the US tech sector, where American companies benefit significantly from European markets. "Nothing is ruled out, all tools are on the table," he noted, implying that restrictions on U.S. Big Tech could be a potential countermeasure.
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The E.U. is expected to announce its official response in mid-April, with pressure mounting to expand its countermeasures beyond traditional tariffs and into key U.S. services, including the financial and technology sectors.
In the past weeks, E.U. countries agreed to buy new weapons from European manufacturers, signaling a shift from a long period of purchases from American defense companies. E.U. leaders vowed to limit the participation of U.S. companies in weapons tenders, a decision that angered the White House and U.S. arms dealers.
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