French President Emmanuel Macron aims to convince his American counterpart Donald Trump to avoid a trade war, he announced on Saturday during a visit to an agricultural fair in Paris.
“Allies do not hurt each other with tariffs. I will talk to him about it because we need to calm things down,” said Macron, highlighting the importance of exports for French agriculture and agri-food sectors. Winemakers are particularly worried about the potential return of customs tariffs on wine and cognac exports to the US.
Macron is travelling to Washington on Monday for talks with Trump. While the primary discussion topic will be the war in Ukraine, the French President will also address trade issues. Trump has already announced increased import tariffs on steel and aluminium, and is threatening to target other products.
According to Bloomberg, the European Union estimates that the first wave of import tariffs on steel and aluminium could affect exports worth up to €28 billion. The volume of goods subject to these tariffs is roughly four times greater than during Trump’s previous term, as this time, it includes derivative products made from steel and aluminium.
The new tariffs on steel and aluminium are set to take effect on 12 March. EU Trade Commissioner Maros Sefcovic, who visited Washington this week in an attempt to defuse a growing trade conflict, has announced “strong and proportional” countermeasures.
