Two days after a state visit to China, French President Emmanuel Macron today threatened Beijing with tariff measures that could be applied "in the very near future."
Macron said in an interview with the French newspaper Les Echos that China's behavior "strikes at the center of the European industrial and innovation model."
"I told them that if they do not react, we Europeans will be forced, in the very near future, to take strong measures like the United States of America (US), such as tariffs on Chinese products," Macron said upon his return from an official visit to China.
Washington imposes high tariffs on Chinese goods, which were, however, reduced from 57 percent to 47 percent as part of an agreement announced in late October between the two countries.
"China is striking at the heart of the European industrial and innovation model, historically based on machine tools and automobiles," Macron said.
The French newspaper assessed that the protectionism of the administration of US President Donald Trump is only making things worse.
"It exacerbates our problems by massively redirecting Chinese flows to our markets. Today we are trapped between two sides, and it is a matter of life or death for European industry," the French president said.
Macron added that Europe, in order to reduce its trade deficit with China, must accept Chinese investment.
However, Chinese investments in Europe "must not be predatory, that is, made for the purpose of hegemony and creating dependence," Macron stressed.
The French president said the European Union (EU) needed to protect itself in the most vulnerable sectors - such as the automotive industry, which is facing a huge surge in Chinese electric vehicles - and to "reengage in competitiveness policy".
This requires "simplifying and deepening the single market, investing in innovation, fair protection of European borders and an adapted monetary policy," Macron added.
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