French finance minister urges US to end trade acrimony with Europe

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WASHINGTON: French Finance Minister Bruno Le Maire on Thursday (Oct 14) called on the United States to put an end to trade rivalries with Europe, stressing that a \u0022strong\u0022 France and Europe are in America\u0027s interest. \u0022My message to the US administration on these trade issues is very clear: let\u0027s get rid of

WASHINGTON: French Finance Minister Bruno Le Maire on Thursday called on the United States to put an end to trade rivalries with Europe, stressing that a"strong" France and Europe are in America's interest.

Le Maire was due to meet with White House officials on the sidelines of this week's meetings of the International Monetary Fund and the World Bank.Former US president Donald Trump in June 2018 imposed punitive tariffs of 25 percent on steel and 10 percent on aluminum, citing national security concerns. The duties applied to US allies and rivals alike, and drew swift retaliation from Europe.

Le Maire echoed comments from Biden on Wednesday, citing the need"to gain our independence on semiconductors," energy and other items.Countries can no longer accept a situation where auto factories run half capacity because they rely on semiconductors coming exclusively from Taiwan, South Korea or elsewhere, he argued.

 

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