Advertisement
France
WorldEurope

France’s Macron urges firms to halt US investments in ‘collective solidarity’

Macron also insisted the EU should not be shy when responding to US tariffs

2-MIN READ2-MIN
4
France’s President Emmanuel Macron arrives for a meeting with representatives of the sectors affected by US tariffs, at the Elysee Palace in Paris on Thursday. Photo: AFP
Bloomberg

French President Emmanuel Macron urged companies to pause investments in the US after President Donald Trump announced tariffs on the European Union and other regions.

It makes little sense for firms to invest there while the US hits out against Europe, Macron added, speaking ahead of a meeting with representatives of industry groups affected by tariffs.

“What would be the message of having big European players that invest billions in the American economy at the same time they are hitting us?” Macron said. “We must have collective solidarity.”
Advertisement
Trump, speaking from the White House on Wednesday, announced a 20 per cent tariff on EU imports, which will take effect April 9. He repeated his assertion that the 27 member states “rip us off” and called it “pathetic”.
07:05
World leaders react to Trump’s new tariff blitz as global trade war escalates

The American president named French maritime company CMA CGM SA and carmaker Stellantis NV as companies that have recently invested in the US thanks to him. The French shipping giant said last month it would invest US$20 billion in the US to develop maritime infrastructure.

Advertisement

In 2023, French direct investment in the US reached US$370 billion (6.9 per cent of total FDI in the US), up 1 per cent in one year, according to the latest data published by the US Bureau of Economic Analysis.

Advertisement
Select Voice
Select Speed
1.00x