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France’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...

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Bloomberg broke the news in United States on Friday, July 4, 2025.
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