Summary
- The French government stated that President Trump is expected to announce reciprocal tariffs of 20-25%.
- It was reported that such high tariffs would cause severe economic turmoil in both Europe and the United States.
- France and the EU are preparing to respond in a proportional manner following Trump's tariff announcement.
"Strong Level of Tariffs, Severe Economic Disruption"
France and EU to Respond to US Reciprocal Tariffs in a 'Proportional Manner'"
The French government anticipated on the 2nd (local time) that the tariffs on French and European Union (EU) products to be announced by US President Trump that day would be in the range of 20-25%.
According to Reuters, French government spokesperson Sophie Primas stated at a press conference that day that Trump's reciprocal tariffs are expected to be at a very strong level of 20-25%. She added that such high tariff rates would lead to severe economic disruption and cause significant economic turmoil in industries affected not only in Europe but also in the United States.
France and the European Union (EU) are preparing to respond after Trump's announcement of reciprocal tariffs. French Minister of Industry Marc Ferracci stated that day, "Europe will respond in a proportional manner."
Guest reporter Kim Jung-a kja@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
