Macron calls for temporary suspension of investments in US
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French President Emmanuel Macron met with representatives from economic and industrial sectors at the Élysée Palace yesterday and made an appeal to French companies, asking them to temporarily suspend any investments in the United States until the situation with the White House is clarified. Tensions between Europe and the U.S. escalated significantly following Wednesday's press conference, when Trump announced the introduction of global tariffs set at 20% for the European Union.
Macron's proposal could pose difficulties for some French companies, such as shipping company CMA CGM, which had recently struck a $20 billion deal to build terminals and logistics hubs in the U.S. – a deal that Trump specifically mentioned during the press conference on Wednesday. Another company that could see its deal temporarily postponed is Schneider Electric, a supplier of electronic equipment, which had announced a $700 million investment in the U.S. at the end of March, aimed at supporting energy infrastructure used for power AI growth.
Macron stated that all options are on the table, but also emphasized the importance of the European market, which boasts 450 million consumers – a number much higher than that of the U.S. According to the French president, Europe must provide a united and strong response to U.S. tariffs. For Macron, this could translate in the temporary suspension of all investments – both already announced and future ones – in the U.S. According to data from the French Ministry of Economy, Paris is the fifth-largest investor in the U.S. and generated a flow of 6.9 billion euros in 2023 alone.
Macron's proposal could pose difficulties for some French companies, such as shipping company CMA CGM, which had recently struck a $20 billion deal to build terminals and logistics hubs in the U.S. – a deal that Trump specifically mentioned during the press conference on Wednesday. Another company that could see its deal temporarily postponed is Schneider Electric, a supplier of electronic equipment, which had announced a $700 million investment in the U.S. at the end of March, aimed at supporting energy infrastructure used for power AI growth.
Macron stated that all options are on the table, but also emphasized the importance of the European market, which boasts 450 million consumers – a number much higher than that of the U.S. According to the French president, Europe must provide a united and strong response to U.S. tariffs. For Macron, this could translate in the temporary suspension of all investments – both already announced and future ones – in the U.S. According to data from the French Ministry of Economy, Paris is the fifth-largest investor in the U.S. and generated a flow of 6.9 billion euros in 2023 alone.