PARIS, April 3 (Reuters) - In a significant move, French President Emmanuel Macron has urged European companies to halt any planned investments in the United States. This call to action comes on the heels of an announcement from U.S. President Donald Trump, who introduced sweeping global tariffs affecting American imports.
During a meeting with representatives from the French industry, Macron stated that all investments either in the pipeline or recently announced should be put on hold until the situation with the United States becomes clearer. This stance reflects growing concerns among European leaders regarding the impact of Trump's tariffs on international trade.
Macron's comments follow the recent announcement by French shipping giant CMA CGM, which had previously committed to investing $20 billion in the United States to develop shipping logistics and terminals. This planned investment had received praise from Trump, who referenced it in his address where he unveiled the new tariffs.
As of now, neither CMA CGM nor any other companies have responded to Macron's proposal to suspend investments. The uncertainty surrounding U.S. trade policies has left many in the business community in a state of apprehension.
Macron emphasized that no potential responses to Trump's tariffs have been ruled out. He suggested the use of the anti-coercion mechanism, an EU instrument designed to safeguard the bloc's trade interests. Additionally, he mentioned possible responses that could target American digital services and financial mechanisms.
The French President indicated that the European response to the tariffs would be more robust than previous retaliatory measures taken against U.S. tariffs on steel and aluminum. He described the new tariffs as brutal, unfounded, and a significant shock to international trade. Macron stressed the importance of a coordinated European response, advising that it should be conducted on an industry-by-industry basis.
As tensions rise over international trade policies, the actions taken by Macron and the European Union will be critical in shaping the future of transatlantic trade relations. The call for a suspension of investments underscores the need for European companies to navigate the uncertain waters of U.S. trade tariffs carefully.
Reporting by Dominique Patton, Gus Trompiz, and GV De Clercq; Editing by Makini Brice, Alexandra Hudson.
