💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

France against trade negotiations over U.S. tariffs: minister to Les Echos

Published 05/04/2018, 12:05 PM
© Reuters. French Minister of State attached to the Minister for Europe and Foreign Affairs Jean-Baptiste Lemoyne attends the questions to the government session at the National Assembly in Paris

PARIS (Reuters) - France is against the European Union entering into trade negotiations with the United States over metal tariffs and an exemption for the bloc should be without conditions and permanent, a junior French minister said on Friday.

"The French government shares the European Commission's position, that is to demand a full, permanent and unconditional exemption," Jean-Baptiste Lemoyne, a junior minister in the Ministry of Foreign Affairs told the Les Echos newspaper.

German Chancellor Angela Merkel this week called for EU member states to give Trade Commissioner Celia Malmstrom a clear mandate for negotiations with Washington, and a top German minister acknowledged differences with Paris.

The priority for export-oriented Germany, Europe's biggest economy, is to get a broad agreement to lower tariffs across a broad spectrum of products, especially in manufacturing.

"We don't share the strategy that would aim to enter into negotiations on tariffs," Lemoyne said, without saying if that referred to Germany or other countries.

"Indeed, if this negotiation became solely about tariffs on automobiles, we would be in violation of World Trade Organization rules unless we were to apply the reduction of rights to all countries and not only the United States, which is undesirable," the junior minister said.

Lemoyne said the French and German governments were in "constant discussion" about the matter. "Paris and Berlin share the same ambition: the European Union cannot be the scapegoat of steel trade tensions generated by other countries," he said.

© Reuters. French Minister of State attached to the Minister for Europe and Foreign Affairs Jean-Baptiste Lemoyne attends the questions to the government session at the National Assembly in Paris

Earlier, a German government spokesman said EU member states should engage in intensive talks to reach a common position.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.