France’s Minister for Trade, Nicolas Forissier, said on Saturday that the European Union possesses the necessary tools to respond to the latest round of tariffs imposed by the United States.
He added that Paris is holding discussions with other EU member states and with the European Commission regarding the decision by U.S. President Donald Trump to introduce a unified global tariff of 10 percent. The move follows a ruling by the U.S. Supreme Court that many of the tariffs previously imposed by Trump on U.S. trading partners were unlawful.
“Forissier said, ‘If necessary, the European Union has the appropriate tools.’”
French officials indicated that a potential EU response could include deploying its trade deterrence instrument — the Anti-Coercion Instrument — which could affect American technology companies. The powers under this mechanism are broad, ranging from export restrictions to tariffs on services, as well as excluding U.S. companies from EU public procurement contracts.
He also noted that a package of counter-tariffs targeting more than €90 billion ($106 billion) worth of U.S. goods remains on hold and could be implemented if required.
Reuters
