Paris: French President Emmanuel Macron on Thursday called on French companies to temporarily halt all investment projects in the United States following President Donald Trump's announcement of a significant increase in customs duties against the European Union.

According to Anadolu Agency, Macron addressed representatives from the French industries most affected by the proposed tariffs during a meeting at the Elysee Palace. He highlighted the necessity of obtaining clarity before proceeding with further transatlantic investments, emphasizing the potential economic risks involved.

The meeting was organized in reaction to Trump's declaration of sweeping tariffs on several countries and economic regions, including the EU. The new tariffs impose a 20% surcharge on imports from the EU, while other regions will face a minimum rate of 10%.

Macron stated the importance of temporarily suspending future investments or those announced in recent weeks until the situation with the United States becomes clearer. He warned that continued investment in the US economy during this period could send the wrong message, especially as the US enacts harsh tariffs on European goods.

Macron described the US decision as "brutal and unfounded," forecasting a "massive impact" on the European economy. He stressed the significance of European unity in responding to the crisis, cautioning against any nation attempting to negotiate with Washington independently. Macron reiterated the need for a collective European approach, warning that policies like these could ultimately weaken the US economy. "Americans will emerge weaker and poorer," he stated.

He urged European countries to avoid unilateral negotiations, arguing that a cohesive response was essential for addressing the new tariffs effectively.