1 week Ago By RFI
US tariffs on European goods jumped to 20 percent on Wednesday, hitting everything from French wine to German cars. Brussels is firing back with its own measures, opening a wider trade fight that could hit key industries in France and across Europe. President Donald Trump imposed a 10 percent tariff on all imports to the US on Saturday.
That base rate is now being reinforced with additional surcharges aimed at countries that export more to the US than they import. A document released by the White House shows that around 80 countries and territories are affected. China faces a 104 percent hike, Vietnam 46 percent and Japan 24 percent.
The 20 percent surcharge on EU goods applies across the board, covering all exports from France and other member states. 'Major risk to France' French Prime Minister François Bayrou warned the tariffs could cost France more than 0.5 percent of GDP .
“The risk of job losses is absolutely major, as is that of an economic slowdown and a halt to investments,” he told daily Le Parisien . At the same time, French producers facing US tariffs may scale back exports, raising the risk of surplus stock and domestic price drops in sectors like wine or cheese. Read more on RFI English Read also: Africa braces for economic hit as Trump’s tariffs end US trade perks As Trump imposes trade barriers, China and France seek closer ties French industry leaders back Macron’s call to freeze US investments.
