Davos: French President Emmanuel Macron on Tuesday emphasized the need for strengthening "European trade defense instruments" in response to potential continued tariffs by US President Donald Trump. This call was made during Macron's opening address at the World Economic Forum's annual meeting.
According to Kuwait News Agency, Macron criticized trade agreements from the United States that he believes undermine European export interests and demand significant concessions. He highlighted the emergence of a "North American preference" in markets, urging Europe to collectively establish a "European preference" through cross-sector cooperation.
Macron warned against the detrimental effects of "trade wars and escalation" on the global economy, advocating for Europe to leverage its robust trade tools when its rights are challenged by policies that seek to weaken and subordinate the continent. He emphasized a preference for respect over coercion, advocating for adherence to the rule of law.
The French president also noted US intentions to create a new global "Peace Council" under American control. He expressed concerns about global democratic backsliding and increasing violence, cautioning that the world may be shifting towards a "rules-free order."
Macron voiced his intention to revitalize the G7, chaired by France this year, to foster open dialogue and collective problem-solving. He underscored the competitive gap between Europe and the United States and the challenges posed by China's market strategies, advocating for enhanced protection of the European market without resorting to protectionism.
He highlighted the asymmetry in market access, pointing out that while European markets are broadly open, access to the Chinese market remains restrictive. Macron's speech followed threats from the US president to impose new tariffs on European countries unless an agreement is reached on the sale of Greenland and additional tariffs on certain French products in the absence of France's participation in the proposed "Peace Council."