French President Emmanuel Macron has called on French companies to suspend all investment projects in the United States "until the situation becomes clear" regarding the American tariffs.
During a meeting with representatives of economic sectors most affected by the U.S. decision to impose tariffs on imports, Macron stated, "The important thing is to temporarily suspend future investments or those announced in recent weeks until matters with the United States are clarified." He added, "This is a message we can send, especially if investments in the U.S. economy begin while they are targeting us."
Macron warned of the consequences of the new tariffs, saying, "These tariffs will have a massive impact on the European economy, but the real losers are the Americans, who will emerge from this trade escalation weaker and poorer."
He confirmed that "the European response to the tariffs will occur in two phases: the first phase in mid-April, which will include steel and aluminum, and the second phase at the end of April after reviewing our response in each sector."
Macron urged the European Union to prepare for a strong response to the U.S. tariffs and to take retaliatory measures, such as targeting American technologies and services.
French Cabinet spokesperson Sophie Prima confirmed on Thursday that "a set of measures may be agreed upon by the end of this month, targeting major American tech companies (Google, Amazon, Facebook, Apple, Microsoft)."