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French President Emmanuel Macron has urged businesses to halt investment in the US until Washington clarifies its "brutal and unfounded" new tariffs on European goods.

His remarks on Thursday came after US President Donald Trump imposed sweeping levies on trading partners, including a 20% tariff on EU imports.

"Future investments, including those announced in recent weeks, should be suspended until the situation with the United States is clarified," Macron told a meeting of French business leaders and ministers in Paris.

He warned that Trump’s policies would leave Americans "weaker and poorer" and called for a united European response to avoid unilateral action.

Two-Phase European Response

The French government outlined plans for a coordinated EU reaction in two stages:

• Mid-April: Measures targeting existing US tariffs on steel and aluminium.
• End of April: A "more massive response" after assessing affected sectors and consulting EU members.

Business Leaders Back Macron

Patrick Martin, head of France’s employers’ federation Medef, called the situation "very serious," warning that global trade was becoming "extremely brutal."

Business group France Industrie urged affected manufacturers to consider retaliatory steps, including pausing US investments.

"To negotiate from strength, we must be ready to use all available levers," said its president, Alexandre Saubot.

Market Turmoil and Economic Fallout

The Paris stock market plunged more than 3% on Thursday—its steepest drop in two years—following Trump’s announcement.

Economist Vincent Vicard said the tariffs "blow up the basic rules of international trade" but noted the EU was well-placed to respond, potentially by restricting US imports or market access.

US-France Trade in Numbers

• French investment in the US: $370bn (2023) – 5th largest foreign investor. (US Bureau of Economic Analysis)
• US investment in France: $142bn (2023), largely in manufacturing. (French Central Bank)
• French firms in the US: 4,200+ subsidiaries employing 741,000 people. (AmCham France, BEA)

French Overseas Minister Manuel Valls condemned the US tariffs as "deeply political," reflecting "inconsistencies, absurdities, and incompetence."

As tensions escalate, Macron’s call signals growing European resistance to Trump’s trade policies—with economic retaliation now on the table.

Additional reporting by AFP.