**Paris**: French Finance Minister Eric Lombard criticises President Trump’s announced tariffs on car imports as an ‘uncooperative act.’ He indicates the EU’s likely retaliation with higher tariffs on US products while expressing hope for negotiation to rebalance trade relations.
The Economic Times has reported that French Finance Minister Eric Lombard has expressed significant concerns regarding the recent announcement by US President Donald Trump to impose tariffs on car imports. Describing the situation as “very bad news” and an “uncooperative act,” Lombard indicated that the European Union (EU) is now left with little option but to retaliate against these measures.
In a broadcast on France Inter radio, Lombard stated, “The hostility is increasing,” referring to the escalating trade tensions between the US and Europe. He articulated that the tariffs, which will impose a 25% levy on all foreign-made cars and are set to come into effect next week, present a daunting challenge in an environment that requires cooperation for resolution. “We are in a situation where aggressive measures are being taken and it is the European Union that is negotiating,” he noted, highlighting the disproportionate nature of the dealings.
The Finance Minister pointed out that the only feasible response for the EU would be to raise tariffs on American products as a countermeasure. “The European Commission is currently drawing up a list of US products that would be hit by tariffs,” Lombard confirmed. Emphasising the need for a strategic response, he remarked, “We are in a situation where we are being targeted. Either we accept it, in which case this will never stop, or we respond.”
Despite the gravity of the circumstances, Lombard also conveyed a sense of hope regarding potential negotiations. He communicated a desire for discussions to commence promptly with American counterparts to seek a reduction in tariffs. “We want to rebalance the playing field so that the Americans, too, are forced to negotiate with us to bring tariffs down,” he added.
In a cautionary note, Lombard warned of the “gravity of the moment,” asserting that the US’s current shift in economic policy is not only aggressive but also detrimental to both the US and European economies. This forthcoming development in trade relations signals potential impacts on industries reliant on cross-border trade between the United States and Europe.
Source: Noah Wire Services
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