EU will ‘do the same’ if US imposes tariffs hikes: French minister

CAPE TOWN: French Finance Minister Eric Lombard told AFP on Thursday that the European Union would “do the same” if the United States follows through with 25 percent tariffs announced by President Donald Trump.

Trump threatened Wednesday to impose 25 percent tariffs on goods imported from the European Union.

“It is clear that if the Americans maintain the tariff hikes, as President Trump announced, the EU will do the same,” Lombard said in an interview on the sidelines of the G20 finance ministers meeting in Cape Town.

“Even if it is not in the general interest, we too must protect our interests and the interests of the countries of the union,” Lombard told AFP.

Asked about Trump’s comment that the EU was created to “screw” the United States, the minister insisted: “The United States is a great ally.”

He emphasised the “historical depth” of the transatlantic partnership and its “very intertwined” economies.

“There is no alternative either for the United States in trade with the rest of the world, or for us in trade with the United States,” he said. “It is in the interests of both economies to continue to cooperate.”

Diplomats from the G7 countries spoke to US Treasury Secretary Scott Bessent Thursday, telling him that “tariff wars lead to inflation, lower growth and are not a solution”, Lombard said.

Bessent did not travel to Cape Town for the G20 talks, but attended the G7 meeting virtually.

“Minister Bessent told us that negotiations would start on April 2,” Lombard said, adding the EU would “represent the European countries with the aim of reaching a fair agreement”.

“Europe is fully united,” he said.

While Trump’s threats laid bare his hostility towards its longtime trade partner, declaring that the EU had “really taken advantage of us”, Lombard stressed that the implementation of any tariff hike was still unclear.

At their talks in Washington Monday, Bessent “presented himself as being open to discussion on all subjects,” he told AFP. “So I interpret this openness as: we’re going to talk.”