Eric Lombard, France’s economy minister, has called on French companies to show “patriotism” in the face of the worldwide customs duties announced by US President Donald Trump.
Earlier on April 4, French President Emmanuel Macron had already called on domestic companies to suspend their investments across the Atlantic after Trump’s “brutal” actions.
Speaking to news outlet BFMTV the same day, Lombard said: “It is clear that if a large French company were to agree to open a factory in the United States, it would be giving a point to the Americans.
“The real objective of the United States is to reindustrialise the country and force groups to come and manufacture in the United States to avoid customs duties,” he said.
“They want to siphon off the world’s economy for their own benefit. We must not let this happen.”
Lombard added that a European response could go “beyond customs duties” and might entail data exchange and tax tools.
“We are going to retaliate on a set of products on which there is no risk of disrupting the value chain in Europe,” he said.
“The response can be very vigorous and we must not retaliate with exactly the same weapons because if we do as the United States … we will also have a negative effect in Europe,” with inflation and lower growth, he warned.
Lombard also stressed that Trump’s tariffs would hurt US consumers in the first place and noted that copying that method – extreme taxation – would risk leading to inflation and economic slowdown in Europe.
He said the European response had to be “proportionate” and that he saw it as a tool for negotiations with the US, “on an equal footing”.
He emphasised that the European economy was one of the strongest in the world and had the ability to negotiate and quickly counter US measures.
“Talks are ongoing,” Lombard added.
“Donald Trump is a negotiator. He has put an aggressive proposal on the table, and we will respond to it.”
Asked about the economic impact of this crisis, he ruled out any immediate “austerity”.
"Les États-Unis veulent siphonner l'économie du monde à leur profit", pointe Éric Lombard pic.twitter.com/QVaheeoouZ
— BFMTV (@BFMTV) April 4, 2025
