FRENCH President Emmanuel Macron called on Thursday for European companies to suspend planned investment in the United States after U.S. President Donald Trump announced sweeping global tariffs on American imports.
"Investments to come or investments announced in recent weeks should be suspended until things are clarified with the United States," Reuters reported Macron saying today during a meeting with French industry representatives.
The comments come weeks after French shipping firm CMA CGM announced plans to invest US$20 billion in the U.S. to build shipping logistics and terminals, a plan that was hailed by President Trump at the time, and mentioned again in his Wednesday speech unveiling the tariffs.
French electrical equipment supplier Schneider Electric said late last month it would invest US$700 million in the country to support U.S. energy infrastructure to power AI growth.
Neither company immediately responded to requests for comment on Macron's proposal.
Macron said no response to Trump's tariffs had been ruled out yet and suggested using the anti-coercion mechanism, an EU instrument to protect the bloc's trade, and responses targeting digital services and financing mechanisms of the U.S. economy.
Macron added that the response to the reciprocal tariffs would be "more powerful" than its earlier retaliation to U.S. steel and aluminum tariffs.
Macron called the tariffs "brutal and unfounded" and a shock for international trade, and that Europe must respond "industry by industry".- April 4, 2025
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