Macron criticizes tariffs and calls for a freeze on all investment in the US

French President Emmanuel Macron on Thursday criticized the tariffs announced by Donald Trump on so-called Liberation Day. He also called on French companies operating in the United States to suspend all their investment projects there until the announcement by his American peer is "clarified."

"Future investments, investments announced in recent weeks, must be suspended for a while until the situation with the United States is clarified," Macron said at the start of a meeting at the Elysee Palace, the presidential headquarters in Paris, with his government and the sectors concerned.

"What would be the message if major European players invest billions of euros in the US economy just at the moment when we are being hit?" the Gallic president added.

The US president signed on Wednesday a decree to launch a minimum customs tariff of 10% for all imports coming into the country, and 20% for products coming from the European Union, a "catastrophe," in the words of French Prime Minister François Bayrou.

The United States was France's fourth largest export market in 2023, after Germany, Italy and Belgium, according to French customs. Among the French sectors most exposed to the new tariffs are aeronautics, luxury, wines and cognac.

"One thing is certain: with tonight's decisions, the US economy and Americans, whether companies or citizens, will come out weaker than yesterday and poorer," warned Macron, who called on Europeans to "stick together" and avoid "going it alone."

The EU warned that it is prepared to respond to the tariffs, but extended a hand to negotiate an exit. French government spokeswoman Sophie Primas assured that the European bloc could impose tariffs on US digital services.