“Paris has entered into talks with EU partners and the European Commission regarding President Trump's decision to impose a single global customs tariff of 10% after the US Supreme Court ruled that many of the existing tariffs imposed on trading partners were unlawful,” Nicolas Forissier reported in an interview with the Financial Times.
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He added that “if necessary, the EU has the appropriate instruments.”
The EU's response could include options such as a “trade bazooka” – an anti-coercion instrument (ACI) – that could impact US technology companies, the journal said.
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The “bazooka” is a tool adopted in 2023 that allows the European Union to punish unfriendly countries for “economic blackmail” by restricting trade licenses and cutting off access to the single market.
The text states that another possibility is to launch the suspended package of retaliatory tariffs on American goods exceeding the value of EUR 90 billion.
The US Supreme Court dealt a major blow to the centerpiece of Trump's foreign and economic policy on Friday by invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The most controversial import taxes were overturned, including 10%. minimum duty on goods from almost all countries, 15%. customs duties on EU goods, as well as punitive tariffs imposed on China, Canada, Mexico and Brazil.
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The US president criticized the court's decision and signed the regulation on the 10% tax on the same day. customs duties on goods from all countries imposed under other regulations.
