French President Emmanuel Macron wants to apply the 'trade bazooka' in response to US President Donald Trump's tariffs against several European Union (EU) countries due to their stance on the annexation of Greenland. This was reported by Le Monde, citing sources.
Macron stated after Trump imposed tariffs the necessity for the European Union to respond with an 'anti-coercion instrument', writes the publication. According to him, European countries must combat the threat of tariffs being imposed against them.
'This weapon — never before used and dubbed the EU's “bazooka” in trade — allows for the restriction of imports of goods and services,' the publication reports.
The 'anti-coercion instrument' came into force in December 2023 and is aimed at protecting the interests of the European Union and individual member states from economic coercion, including through tariffs. The EU can take 'countermeasures', such as tariffs, trade restrictions on goods and services, restrictions on access to government programs and financial markets, or measures affecting intellectual property rights and foreign direct investment.
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