France Urges European Firms to Halt U.S. Investments Amid New Tariffs

French President Emmanuel Macron urged European companies on Thursday to suspend planned investments in the United States following President Donald Trump’s announcement of sweeping global tariffs on American imports.

"Investments that were planned or recently announced should be put on hold until we have clarity on the situation with the United States," Macron stated during a meeting with French industry leaders.

His remarks come just weeks after French shipping giant CMA CGM revealed a $20 billion investment plan in the U.S. to develop shipping logistics and terminal infrastructure. The project had been praised by Trump and was referenced again in his Wednesday speech introducing the tariffs.

Similarly, French electrical equipment manufacturer Schneider Electric (SCHN.PA) announced a $700 million investment late last month to enhance U.S. energy infrastructure, particularly to support the expansion of artificial intelligence-powered industries.

Neither company has yet responded to Macron’s call to suspend their investments.

Macron emphasized that all potential responses to Trump’s tariffs remain on the table, including the EU’s anti-coercion mechanism, which is designed to safeguard European trade interests. He also hinted at countermeasures targeting digital services and financial mechanisms that underpin the U.S. economy.

The French president criticized the tariffs as “brutal and baseless,” warning that they pose a serious shock to international trade. He pledged that Europe’s response would be stronger than its previous retaliation against U.S. steel and aluminum tariffs.

"This time, our response will be more powerful," Macron asserted, adding that the EU must counter industry by industry to protect European businesses from unfair trade practices.

SLHA and news agencies
4 April 2025