France Criticizes Tariffs and Trump's Trade Policy
Last month, US President Donald Trump issued tariffs on steel and aluminum imports coming into the United States from a number of different countries. The tariffs were 25 percent on steel products and 10 percent on aluminum products.
Within a few days of announcing the new tariffs, President Trump announced that he would be putting temporary exemptions into place for a number of nations that were closely allied with the United States. These exemptions included Canada and the members of the European Union.
In a matter of days, the tariff exemptions are set to expire. The French government is insisting that President Trump remove the tariffs completely. The French Trade Minister has stated that having the temporary exemption in place was like, "having the sword of Damocles hanging over our head."
The French Trade Minister believes that no tariffs of any kind should exist between the United States and the European Union. He believes that in the long run, the tariffs will be hurtful to the economic future of both areas.
China received no exemptions from the Trump administration. In fact, additional tariffs were placed on Chinese products. When these tariffs were announced, the Chinese government announced the imposition of reciprocal tariffs.
The French government has stated that they have no wish to be part of any trade dispute with China. The French government did acknowledge that there are some trade difficulties with China that do need to be worked out. However, they want to solve the problems through negotiation and not through tariffs.
France, the IMF and the World Trade Organization have all criticized the use of tariffs by the United States. They all believe that if a trade war ensues, the global economy would be negatively effected for many years to come.
The Trump administration has responded to the criticism from France and world organizations. The Trump administration believes that unfair trade practices are a greater risk to the global economy than tariffs.
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