The French Minister for Foreign Trade Laurent Saint-Martin called on RTL on Thursday for the European Union to “prepare” for “retaliatory measures” if Donald Trump carried out his threats of customs duty increases against him.
“Europe must not let this happen,” declared Mr. Saint-Martin. “The United States will remain an allied country, but we must prepare” for “retaliatory measures,” he added.
Before being re-elected, Donald Trump threatened to impose customs duties on European products unless the EU increased its purchases of American oil and gas.
On Tuesday, he reaffirmed that European countries were “good for customs duties”, without giving more details on the timetable, the nature of the products targeted, and the rates envisaged.
For Laurent Saint-Martin, customs surcharges vis-à-vis the EU “would firstly be bad news for the United States: it would create an inflationary effect.”
“If Donald Trump has not presented in his first decrees” since his inauguration on Monday “measures to increase customs tariffs, it is also because he knows (…) that this will first have consequences for the United States,” he also said.
The European Union is “ready to defend its economic interests” if necessary, European Commissioner for the Economy Valdis Dombrovskis underlined Monday evening.
When the United States increased customs duties on European steel and aluminum during Donald Trump's first term (2017-2021), the Europeans responded with surcharges on American products like Harley-Davidson motorcycles. and Bourbon.
-According to a European official, the 27 are still divided between a simply “defensive” approach – buying American products such as liquefied natural gas or weapons to try to escape a trade conflict with Trump – or more “offensive” with possible retaliatory measures.
The European Union is not the only one in the American president's sights.
Upon his return to the White House on Monday, Donald Trump also said he wanted to impose customs duties of 25% on products coming from neighbors Canada and Mexico, starting February 1.
published on January 23 at 8:49 a.m., AFP
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