France Expects Trump Tariffs on EU at 20%-25% Today, Vows to Fight Back
1min read France anticipates that U.S. President Donald Trump will announce new tariffs on French and European products later today, with rates expected to range between 20% and 25%, according to Reuters.
Such tariffs could cause major economic disorder on both sides of the atlantic, government spokeswoman Sophie Primas warned.
They risk being pretty powerful. People are speaking of tariffs between 20% and 25%, Primas added, emphasizing the widespread economic impact.
Trump's official announcement will be at 4 PM ET on Wednesday, after the stock market has just closed. The president branded the event as Make America Wealthy Again. Despite that, uncertainty remains over the exact structure of the tariffs. Trump's team is still weighing multiple proposals, including a tiered system with rates of 10% or 20% based on trade barriers, a customized plan matching individual countries' tariffs on U.S. goods, or a flat 20% global tariff.
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Trump has long criticized the trade practices of the EU, Japan, India, and Canada, suggesting a broad application of tariffs that could impact even nations without significant trade imbalances with the U.S. The Wall Street Journal reported that a more selective approach with tariffs under 20% for certain nations is also under consideration.
France and the European Union have pledged to respond. French Industry Minister Marc Ferracci stated that Europe would retaliate in a proportionate manner against any U.S. tariffs. In addition, Ursula von der Leyen, the head of EU's executive has warned to retaliate if it is necessary. With tensions escalating, global markets are bracing for further disruptions in international trade.
