French Finance Minister Eric Lombard told reporters that the European Union would do the same, if the United States proceeds with the 25% tariffs announced by President Donald Trump.
Speaking on the sidelines of the G20 finance ministers’ meeting in Cape Town, Lombard noted that while tariff increases are not in the general interest, the EU must protect its own interests and those of its member states.
The United States President recently threatened to impose 25% tariffs on goods imported from the European Union, escalating tensions between Washington and its European allies.
In response, diplomats from the G7 countries urged US Treasury Secretary Scott Bessent to reconsider the move, warning that trade wars typically lead to inflation and hinder economic growth. Although Bessent did not attend the G20 talks in person, he participated virtually.
“Minister Bessent told us that negotiations would start on 2 April,” Lombard said, adding that the EU would “represent European countries with the aim of reaching a fair agreement.”
“It is clear that if the Americans maintain the tariff hikes, as President Trump announced, the EU will do the same. “Even if it is not in the general interest, we too must protect our interests and those of the countries of the Union,” Lombard said.
