Macron urges French companies to suspend investments in US

French President Emmanuel Macron on Thursday urged French companies to temporarily halt all investment projects in the US following President Donald Trump's announcement of a significant increase in customs duties against the EU.

During a meeting at the Elysee Palace with representatives from the French industries most affected by the proposed tariffs, Macron emphasized the importance of clarity before proceeding with further transatlantic investments.

The meeting was held in response to Trump's announcement of sweeping tariffs on dozens of countries and economic regions, including the European Union. Imports from the EU will face a 20% surcharge, while others will be subject to a 10% minimum rate.

"What is important is (...) that future investments, or those announced in recent weeks, be temporarily suspended until we have clarified things with the United States of America," Macron said.

He warned that it would send the wrong message if European businesses continued to pour billions into the US economy at a time when the country was imposing harsh tariffs on Europe.

"What message would it send if major European players started investing billions of euros in the American economy at a time when they are 'hitting' us?" he insisted.

He also called the decision "brutal and unfounded," warning that these new trade restrictions would have a "massive impact" on the European economy and stressed the importance of European unity in response to the crisis.

He expressed confidence that, in the long run, such policies would backfire on the US economy. "Americans will emerge weaker and poorer," he warned.

Macron also urged European nations to stand together rather than attempt to negotiate independently with Washington.

He cautioned against any attempts to "play it alone" in seeking exemptions or separate deals, emphasizing the need for a collective response to the new tariffs.