French Finance Minister Lombard compared the US, Russia, and China to rule-breaking bullies, saying that tariffs on Chinese steel and cars are not enough

French Finance Minister Lombard said Saturday that protecting EU industries from the impact of the US and China was "crucial." He said: "Imagine the world is like a playground where everyone is playing ... and following the rules, then three bullies appear who do not follow any rules, overturn the game table, and bully the children who are having fun. This is a world of predators." AFP said that Lombard was referring to the US, Russia, and China.

About China, Lombard said that the existing tariffs on steel and automotive industries are not enough.

"We need to implement this policy in all industrial sectors. Otherwise, China's policy of maintaining capacity exceeding 50% of the global market share in every industrial sector will destroy our industry," he added.

Regarding tariffs between France and the US, French Finance Minister said Saturday that he hopes the EU can "this weekend" reach an agreement with Washington on tariff issues.

AFP reported that EU and US negotiators are currently holding talks, and Brussels is striving to reach an agreement before the July 9 deadline to avoid the resumption of high tariffs.

Lombard said: "Regarding tariffs, everything is possible to be decided this weekend."

Lombard said at an economic forum in southern France: "If not, Europe will have to take a stronger response to restore balance."

If the EU cannot reach an agreement with the US by next Wednesday, higher tariffs will come back, bringing an economic shock to the EU.

If no agreement is reached, the default tariff on imported EU products will double to 20% or even higher - President Trump once threatened to impose a 50% tariff.

EU President von der Leyen said Thursday that Brussels seeks a principle agreement, which means further negotiations on details are needed. However, the European Commission believes that trade measures between the EU and the US will remain imbalanced regardless.

Sources: rfi

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