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Investing.com -- Germany and France are pushing for a stronger European Union response to U.S. President Donald Trump’s new tariffs, seeking a more aggressive approach to counter U.S. trade measures, according to a report from Bloomberg on Thursday.
A day after Trump revealed his “liberation day” tariffs, Bloomberg, citing people familiar with the matter, said French President Emmanuel Macron supports the idea of targeting U.S. technology and services as part of the EU’s response.
While France prefers a negotiated resolution, it is also advocating for a firm reaction. “Paris wants to make sure the EU responds with all its instruments to defend EU interests,” Bloomberg said an anonymous source told them.
On Wednesday, Trump announced a 20% tariff on EU imports, set to take effect on April 9. He called the EU’s trade policies “pathetic” and accused the 27-member bloc of unfair trade practices.
German Vice Chancellor Robert Habeck condemned Trump’s decision, saying, “Last night’s decision is comparable to the war of aggression against Ukraine.” He added that Europe’s response should be equally strong, Bloomberg reported.
French government spokeswoman Sophie Primas is said to have told RTL radio that the European Commission could introduce a digital services tax on U.S. firms by the end of April.
“The EU is the largest single market in the world,” German Chancellor Olaf Scholz said, adding that the bloc has “every opportunity to react in a united and decisive manner,” Bloomberg reported.
France has also urged the commission to consider using the EU’s anti-coercion instrument, its most powerful trade tool, though officials view it as a last resort, according to Bloomberg.