Reactions were strong following the announcement of increased customs duties in the United States. The measure had been brandished by Donald Trump as a thinly veiled threat to the rest of the world, with Asia and Europe in its sights. It has just been officially announced.
What will change in France?
The customs duties announced by Donald Trump directly target European exports, with a rate of 20% applied to products from the old continent. For France, these measures particularly affect alcoholic beverages. According to the Federation of Wine and Spirits Exporters (FEVS), these taxes could lead to a 20% drop in sales to the United States, representing an estimated loss of €800 million for the sector.
France doesn't only shine for its fine wines, and the impact may not stop there. The aeronautics industry, pharmaceutical products, and luxury goods, which represent a significant share of exports to the United States, are also likely to be affected. In 2024, French exports to this market strategic value amounted to nearly 38 billion euros. This therefore represents an essential pillar of the national economy that is threatened.
Major economic consequences
These customs duties risk worsening an already difficult context for certain sectors. The French wine sector is already suffering the combined effects of weakened Chinese demand and increased competition on the global market. Cognac and Armagnac producers, highly dependent on the global market American, fear chain closures in regions like Charente. Beyond direct losses, these measures could also have repercussions on employment in France.
Faced with this protectionist offensive, Emmanuel Macron called a meeting this Thursday with representatives of the affected sectors to define a crisis strategy. The objective is twofold: to assess the economic impact and to coordinate a response at the European level. The European Union is already planning a response. Among the options being considered are targeted taxes on American digital services or on certain iconic products like bourbon or Harley-Davidson motorcycles. However, France and its European partners are seeking to avoid an escalation that could further penalize their economies.
What solutions?
To mitigate the effects of these taxes, several avenues are being explored. French companies could seek to diversify their markets by turning to Asia or other regions less exposed to trade tensions with the United States. The European Commission also plans to provide financial support to the sectors most affected by these measures through funds dedicated to international trade.
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