6/4/2025–|Last update: 6/4/202502:01 PM (Mecca time)
French Prime Minister Francois Bayro has warned that the recently imposed American customs duties may hinder his country’s efforts to fill the budget deficit, noting that “US customs duties may cost more than half a point of France’s economic output,” and that this would cause risk of significant loss of jobs as well as the risk of economic slowdown and the suspension of investments.
Bayro, in statements to the French newspaper, Lubarzian, published yesterday night that US President Donald Trump’s decision to impose customs duties on various countries of the world is dangerous and will cause a global crisis, describing it as the global earthquake that the Americans will be one of his first victims.
He added that “the instability resulting will weaken the global economy for a long time to come.”
In a relevant context, French Finance Minister Eric Lombard said that the European Union’s response to US customs duties may include the regulation of the use of data of major American technology companies.
“We have several tools at the European level, organizational, financial and customs,” Lombard said in an interview published by the JD newspaper late Saturday evening.
He added: “For example, we can enhance certain environmental requirements or organize the use of data produced by certain digital companies.”
The bloc, the largest commercial partner of the United States, pledged to take revenge on counter -procedures if necessary, including through its customs fees and tax bodies and targeting American technology companies.
Last Wednesday, Trump approved an executive order imposing customs duties at least 10% on all imports to the United States and 20% on those coming from the European Union, and higher rates on other countries, which sparked a wave of shock around the world.
“The first concern (…) that should alert us, relates to French producers, companies that produce and export to the United States,” said Francois Payro, warning that “tens of thousands of jobs are threatened” in the agricultural sector, wine production and spiritual drinks.
