French President Emmanuel Macron will gather representatives of all affected business sectors at the Elysee Palace today after US President Donald Trump announced new import tariffs, Reuters reports, BTA reports.
Trump imposed a 10% basic tariff on all goods imported into the United States, and for the European Union the rate is even higher - 20%. This marks the beginning of a global trade war that threatens to accelerate inflation and slow economic growth both in the United States and globally.
According to a French export association, sales of French wines and spirits in the United States could fall by at least 20% due to retaliatory tariffs imposed by Washington.