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The US is making a big mistake with high tariffs on EU countries

This position was expressed by France

Nov 12, 2024 16:11 73

The US is making a big mistake with high tariffs on EU countries  - 1

The imposition of higher tariffs by the US on EU goods would be a big mistake and would harm of American companies in Europe. This was stated by French Foreign Minister Jean-Noël Barro on radio station RFI.

„The European Union is the largest trading partner of the United States. That is why it would be a big mistake for the US to impose indiscriminate and massive tariffs on Europe. “This will seriously affect so many American companies that are now based in France or the rest of Europe, and it will immediately deprive the taxpayer, the American middle class, of a significant portion of their purchasing power as they also buy imported goods from Europe.” , he said.

The head of French diplomacy added that “if the administration of US President-elect Donald Trump persists” following this wrong course, Europe will protect its interests in the industrial and agricultural spheres. According to him, in 2016, Europe was not ready for Trump's presidency, but now the EU countries have “anticipated countermeasures”. As an example, he pointed to the EU's decision to introduce tariffs on cars from China, which, according to Europeans, are produced in non-competitive conditions and with large state subsidies.

„Europe will begin negotiations with the new administration by pointing out that everyone has something to lose from the trade war and also informing it that if tariffs are imposed, retaliation will obviously follow,” Barro said. .

In his campaign speeches, Trump promised not only to reduce the US trade deficit by imposing tariffs on EU imports, but also to force entrepreneurs to move their factories to the United States. As noted by the Politico newspaper, in Brussels they believe that the implementation of the Republican's promises, especially regarding the German automobile industry, could be a disaster for most of the largest economies of the European Union.