On January 20, French President Macron spoke at the World Economic Forum in Davos, Switzerland:
"We need more direct investments from China in key sectors of Europe to promote our (economic) growth and achieve technology transfer. Not just exporting some equipment products to Europe, which sometimes do not meet our standards, or receive more subsidies than locally produced European products."
Macron specifically emphasized that his position "is not protectionist," but rather to restore what he called a "fair" competitive environment and protect European industries.
After his visit to China in late 2025 and his speech at the Davos Forum in early 2026, Macron repeatedly called publicly for increased direct investment from China in key European sectors to save the "life-or-death" crisis of European industry, while simultaneously raising the threat of imposing tariffs.
Macron urged China to emulate the "25-year-old European investment model" toward China, making greenfield investments (i.e., building new factories) in key sectors such as nuclear energy, aviation, electric vehicles, batteries, and photovoltaics, creating local employment and technology transfer. However, he also warned that if the Sino-European trade deficit (over 300 billion euros in 2024) continued, the EU might follow the U.S. example and impose tariffs on China within "a few months."
While seeking Chinese investment, Macron threatened to impose tariffs, reflecting a strategic anxiety and diplomatic maneuver under the context of declining European industrial competitiveness. This approach aims to balance the dual pressures of China and the U.S., appease domestic political demands, and use tariffs as leverage to gain concessions from China.
Macron's remarks reflect Europe's strategic positioning dilemma.
Macron argued in The Financial Times for "conditional openness": accepting Chinese investment requires ensuring "job creation and technology sharing," but did not address China's equivalent demands. Analysts point out that this contradiction stems from Europe's dilemma of relying on the U.S. for security while depending on China for economic growth.
The core issue in Sino-European relations lies in whether the EU can abandon its zero-sum mindset of "seeking the benefits of the Chinese market while trying to contain Chinese competition." If France continues to use tariffs as a political tool, it may trigger broader trade conflicts (such as China's prepared countermeasures against cars and Airbus planes). A pragmatic path requires the EU to freeze the China-EU Investment Agreement, eliminate technological export barriers; otherwise, the strategy of "investment and threats" will ultimately result in a double loss.
Original: toutiao.com/article/1854872668558336/
Statement: The article represents the personal views of the author.