The USA has announced a 20% tariff on all European products, raising concerns in several countries, especially France, where this could lead to significant economic consequences.
Consequences of New Tariff for the French Economy
Washington's decision to impose 20% customs duties on all European goods has provoked a strong reaction in Paris. Prime Minister François Bayrou expressed his concerns in unequivocal terms:
> "We risk losing more than 0.5% of GDP if nothing is done."
He emphasized the direct threat to the French economy, pointing to several strategically important sectors that may lose competitiveness in export markets.
European Countermeasures and Paris's Strategy
As concerns over the trade war grow, French and European authorities are working to structure a coordinated response to Trump's tariffs. Economy Minister Éric Lombard announced the convening of a "business council" scheduled for April 14 in Bercy, involving major employer organizations in urgent consultation.
European Commission President Ursula von der Leyen clarified that "it is not too late to negotiate" and mentioned ongoing development of a "new package of countermeasures" aimed at preserving European interests if negotiations with the Trump administration fail.
Possible Consequences for Strategic Sectors
The most exposed products include:
* Aerospace products – the largest export category to the USA; * Wines, champagnes, and spirits – symbols of French know-how; * Automobiles – the production chain closely linked to the North American market; * Luxury goods, particularly sensitive to import taxation; * Cheeses and dairy products, frequently targeted during previous trade episodes.
Fears exist that the knock-on effects may impact the entire economic fabric, not just exports.
While a negotiated exit from the crisis remains conceivable, it largely depends on the dynamics of the coming weeks and Europe’s ability to establish a balanced negotiation framework. As the US returns to overt protectionism, the EU will need to show it can defend its economic interests.
