France’s Industry and Energy Minister, Marc Ferracci, has firmly rejected the prospect of a 10% tariff on EU exports to the US, labeling it a 'bad deal' and stressing the need for dialogue to address current trade tensions.
Minister Highlights Urgency of Trade Talks
In an interview at the Rencontres Economiques conference in Aix-en-Provence, Ferracci explained that the 10% tariff is unfair. He called on the parties to unite and initiate dialogue with the US government to resolve the issue. According to the minister, the EU must remain united and strong in responding to tariff measures while considering how tariffs affect supply chains.
European Commission Aims for Successful Negotiations
The European Commission, which represents the EU in trade negotiations, is focused on achieving an agreement that is beneficial for both sides. European Commissioner for Trade and Economic Security, Maros Sefcovic, will join the talks in Washington next week for further discussions on potential deals. The commission is committed to finding solutions that meet the needs of both parties, considering all options available should satisfactory results not be achieved.
Analysts Express Optimism on EU-US Trade Deal
Analysts express growing optimism regarding the possibility of reaching an interim agreement between the EU and the US by July 9. Such an agreement is expected to address tariff and non-tariff barriers, along with the purchases of major American goods. The EU has indicated that an agreement in principle would be the best-case scenario, even as uncertainty remains about how long any interim accords would stay in place.
In light of escalating economic tensions, France's and the EU's positions reflect an effort to protect their interests on the international stage and to find mutually acceptable solutions for maintaining trade relations with the US.
