Macron warns Beijing of tariffs in bid for EU-China trade deal

French President Emmanuel Macron has threatened to impose tariffs on Chinese goods in pursuit of a more balanced trade relationship with the global economic powerhouse. 

During his official visit to China last week, Macron warned Chinese leaders against harming their clients in the European Union by stifling imports.

"I explained to the Chinese that their trade surplus is unsustainable because they are undermining their own customers by not importing enough from us," he said in an interview with Les Echos.

Macron indicated that the EU might have to take retaliatory measures in the coming months if China does not respond appropriately.

"If they don't react, we will be forced to take strong measures," he asserted.

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He criticized US trade wars, which impose strict export restrictions, including Europe’s limits on semiconductor equipment and China’s restrictions on rare earths.

"The measures we take could resemble those of the United States, such as tariffs on Chinese products," he added. 

While some European nations maintain strong ties with China, Macron noted that Germany is "not yet fully aligned with our position," despite acknowledging the growing trade imbalance.

He expressed concern that "China is encroaching on the core of the European industrial and innovation model."

Macron discussed these challenges with European Commission President Ursula von der Leyen.

He pointed out that US tariffs, which were as high as 57 percent this year, have redirected Chinese exports to Europe, making it a battleground for trade.

“China is crashing into the heart of the European industrial and innovation model, historically built on machine tools and the automobile,” he warned

The French president said he had already discussed the looming danger threatening the EU economy with European Commission President Ursula von der Leyen.

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Macron said the protectionism exercised under the Trump administration exacerbates the pressure by redirecting Chinese exports to Europe. As a result, “today we are caught between the two, and it is a matter of life or death for European industry."

US tariffs on Chinese goods added a 30 percent levy compared with the start of the year, while US goods entering China face a new 10 percent tariff.

The French president claimed Trump's trade war sank the EU's position in the global fiscal market to its lowest point. "We have become the adjustment market, and it is the worst-case scenario.”

He said to save itself from the looming danger, the EU needs to combine protection for its most vulnerable sectors, such as the car industry, with a boost to competitiveness.

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To safeguard the EU economy, Macron emphasized the need to protect vulnerable sectors, like the automotive industry, while enhancing competitiveness.

He urged Chinese leaders to increase domestic consumption and allow more EU goods into their market to support the struggling European economy.

Furthermore, he stated that the EU should welcome more Chinese direct investment to help reduce the trade deficit.

"Chinese companies must establish a presence in Europe and create value here," he insisted, while cautioning that such investments "must not be predatory."

Macron concluded that the EU must remain "a zone of monetary stability and credible investment." 

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