French President Emmanuel Macron urged companies to suspend investment in the U.S. after President Donald Trump announced tariffs on the European Union and elsewhere.
Before meeting with representatives of industry groups affected by tariffs, Macron said that when investing in the U.S. during the U.S. attack on Europe, it makes no sense for a company to invest there.
“What information is to get big European players to invest billions in the U.S. economy while they hit us,” Macron said. “We have to have collective solidarity.”
Trump spoke at the White House on Wednesday, announcing tariffs on EU imports reaching 20% tariffs, which will take effect on April 9. He repeated his claim that the 27 member states “deprived us” and called it “tragic.”
The U.S. president appointed French maritime companies CMA CGM SA and Carmarker Stellantis NV as companies that have recently invested in the U.S. The French shipping giant said last month that it would invest $20 billion in the U.S. to develop offshore infrastructure.
According to the latest data released by the U.S. Bureau of Economic Analysis, French direct investment reached $370 billion in the United States in 2023, an increase of 1% in one year.
The French president is meeting with representatives of the business sector, including Airbus CEO Guillaume Faury, CEO of Safran SA, Olivier Andries, Pernod Ricard SA, Alexandre Ricard and Rodolphe Saade CEO, Olivier Andries, CEO of Olivier Andries, CEO of Olivier Andries, CEO of Olivier Andries, CEO of Olivier Andries.
Earlier Thursday, Macron’s spokesman Sophie Primas said Paris was pushing for EU retaliation against U.S. tech companies and extended the measures to the service sector.
Macron also said the EU should not shy away from strong reactions to U.S. tariffs. He proposed the possibility of using EU anti-lubricating tools and entering US digital services and the “US economic financing mechanism”.
The EU’s anti-stubborn measures are its most powerful trade tool, aiming to fight back against countries that forcefully use trade and economic measures.
This will mark an escalation of tensions after Trump’s widely accepted tariff announcements, which he said will help bring work to the United States and boost growth.
Macron insists that any EU response should be coordinated at the group level, adding that he spoke with European Commission head Ursula von der Leyen earlier Thursday.
This article was generated from the Automation News Agency feed without the text being modified.
