US EditionFrance’s Industry Minister Says 10% Tariffs Not Good Deal for EU
FRANCE, JUL 4 – France's Industry Minister warns a 10% tariff on EU exports to the US would harm integrated sectors and urges united EU negotiations before tariffs potentially rise to 50%.
- The 90-day suspension on the tariffs introduced by the US on April 2 in relation to Liberation Day will conclude in two days, which could lead to the issuance of new tariff notifications from the US.
- This pause followed global tariff measures targeting all countries, with the EU racing to finalize a trade deal before tariffs could jump to 50% on most exports by July 9.
- French Industry Minister Marc Ferracci criticized proposed 10% tariffs on European exports as a bad deal, highlighting negative impacts on integrated sectors like aeronautics.
- PwC's John O'Loughlin stated, "10% is not a good answer," and noted businesses had hoped tariffs might eventually drop to zero but that seems unlikely.
- The EU continues to press for lower tariffs and exemptions on key sectors while businesses and officials prepare for ongoing uncertainty in trade relations.
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French Industry Minister Marc Ferracci asserted this Friday that signing a treaty with the United States that includes a universal 10% tariff on European imports "is not a good deal," which would open the door to...
Coverage Details
Total News Sources15
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
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