French government fears for fate of 28,000 businesses amid steep US tariffs

French officials fear that over 28,000 business entities could be negatively affected by the steep import tariffs imposed by the US on European goods.

French government spokesperson Sophie Primas spoke on this issue during a recent press briefing, Caliber.Az reports citing Western media.

Primas revealed that French President Emmanuel Macron plans to hold a meeting of the Strategic Council on Foreign Trade on May 13 in order to “ensure the protection of the country's vital interests.” At the same time, she emphasized that France prioritizes a unified EU position in its negotiations with the US on tariffs.

She emphasized during a press briefing in Paris that France will not retaliate alone and that “salvation” would only be through the European Union. “We must find a single European voice in order to be in a position of strength to talk to President Trump,” she said, estimating that 28,000 French businesses would be hit by the tariffs.

The Governor of the Bank of France, François Villeroy de Galhau, predicts that while the tariffs will have “little or probably no effect on inflation” in Europe, he does acknowledge that they could cause an overall 0.25% decrease in the eurozone's GDP.

By Nazrin Sadigova