Paris, March 4, 2025 — France’s Finance Minister Eric Lombard has called for a “balanced deal” between the European Union and the United States amid escalating trade tensions over customs tariffs.
Speaking to France Info radio on Tuesday, Lombard emphasized the need for a measured approach in negotiations, stating, “We have negotiators who are playing hardball, we will play hardball but… we need to reach a balanced deal to protect our economies.”
His remarks come in response to recent statements by U.S. President Donald Trump, who accused the European Union of being established to “screw” the United States.
Trump announced plans to impose 25% tariffs on EU products, intensifying concerns about a potential trade war. The U.S. President’s comments followed the implementation of 25% tariffs on Canadian and Mexican goods and an increase in tariffs on Chinese products from 10% to 20%, further straining international trade relations.
Lombard revealed that he had met with U.S. Treasury Secretary Scott Bessent last Thursday to discuss the issue. According to Lombard, Bessent indicated a willingness to negotiate, suggesting that the U.S. could “bargain down” in talks.
However, the French finance minister stressed the importance of a calm and strategic response from the European Union, highlighting that the EU is the United States‘ largest market. “We need to look at this with a cool head,” he stated.
Tensions Rise Over Steel and Aluminum Tariffs
The dispute extends beyond tariffs on EU products. President Trump has signed orders to impose 25% duties on steel and aluminum imports starting March 12, a move that has drawn sharp criticism from European officials.
In response, the European Union has vowed to retaliate with “firm and proportionate countermeasures” to protect its industries. The prospect of a tit-for-tat tariff escalation has raised fears of a broader trade conflict that could disrupt global markets.
The tariffs are seen as part of the U.S. administration’s broader strategy to address trade imbalances and protect domestic industries. However, European leaders argue that such measures violate World Trade Organization (WTO) rules and risk undermining decades of trade cooperation between the two economic powers.
Implications for EU-US Relations
Analysts warn that the growing trade tensions could have significant implications for the transatlantic relationship. The European Union is expected to convene emergency meetings to coordinate its response, with some officials advocating for targeted tariffs on U.S. goods to exert pressure on Washington.
The escalating situation has also drawn criticism from European business leaders, who fear that prolonged trade disputes could lead to higher costs and supply chain disruptions.
“Businesses need stability and predictability. The last thing we need is a full-blown trade war,” said Pierre Dumont, a trade analyst based in Brussels.
As negotiations continue, all eyes are on Brussels and Washington to see if a compromise can be reached. For now, the European Union appears determined to present a united front, balancing firmness with a willingness to negotiate.
