Economic patriotism? According to the president France Trump's decision to impose duties on the EU was “brutal and unfounded”. – Future investmentsinvestments announced in recent weeks, They should be suspended for some timeuntil the situation with the United States is explained – said Macron at a meeting with representatives of French business. He is echoed by the Minister of Economy Eric Lombard by describing this attitude as “economic patriotism”.
Loud among European leaders: Other European leaders also loudly criticize the introduction of customs. Ursula von der Leyen described them as “a serious blow to the world economy”, and prime minister Spain Pedro Sánchez found it “contrary to the interests of millions of citizens on this side of the Atlantic and USA“He also noted that the current American administration did not distinguish between friends and enemies. The outgoing German Chancellor Olaf Scholz, in turn, called Trump's decision” fundamentally wrong “and constituting” an attack on the sales system that created prosperity around the world. “
French investments in the USA: Among the French enterprises investing in the United States, two companies stand out – forward-logistics CMA CGM dealing with marine container transport and LVMH, manufacturer of luxury articlesincluding cosmetics and alcohols. Both companies announced billion investments in USA.
Liquidation of several hundred thousand jobs? Although the Minister of Economy supports the idea of limiting or freezing business activities on the other side of the Atlantic, investors are not convinced. – Our export to the USA is about 50 billion euro annually. There may be serious consequences, such as eliminating several hundred thousand jobs – notes Patrick Martin, head of the French entrepreneurs' Union.
Read also: Trump's duties. France ready for a trade war. “He thinks he is the master of the world”
Sources: IAR, Guardian