By imposing a 20% tariff on President Donald Trump's newly imposed EU goods and regulating how the American tech giant handles data, French finance minister Eric Lombard said in an interview with Journal du Dimanche (JDD) published late Saturday.
“There are a few tools at the disposal of the European level: regulations, finances, habits,” Lombard told the newspaper. “For example, you can enhance certain environmental requirements or regulate the use of data by certain digital players.”
Trump announced tariffs on April 2nd, aiming to shake up the global trading system. In response, the EU, AMERICA's biggest trading partner, has banned retaliation with its own measures, including taxes that may have targeted certain US services and high-tech companies.
Lombard said that the European response should have “consequences” for both European and American companies, but he emphasized that Brussels does not intend to punish all imports. “It's not a matter of taxing all American imports, it's counterproductive and will punish our economy just like they do,” he said.
Instead, the minister carefully explained that the EU “is targeting certain industrial segments accurately,” leaving the door open for negotiations that could result in tariff lifting. He noted that if both parties win a balanced agreement “within a reasonable time frame,” it would increase confidence among French companies and households.
EU rules already regulate the use of data through mechanisms such as the General Data Protection Regulation (GDPR), and Lombard did not elaborate on what the new rules would look like. Still, he emphasized that all financial and regulated roads are being discussed.
Musk
Meanwhile, entrepreneur Elon Musk has expressed his hope that Washington and Brussels can build a “zero interest” arrangement.
Speaking via video link to Italian vice-prime minister Matteo Salvini at a league party event in Florence on Saturday, Musk said:
His remarks came after global markets responded to Trump's trade measures. Musk, who has served as a key adviser to the president since January and a leading donor during the campaign, has expressed a contrasting stance.
He proposed a deeper partnership between the US and Europe and greater mobility for workers. “That was certainly my advice to the president,” he said. He said without clarifying whether the guidance focused on tariffs, freedom of movement, or both.
Lombard concluded that if the US fails to roll back tariffs, the EU maintains finances, customs and regulatory measures on the table. However, he also expressed optimism about reaching a solution through dialogue, adding that fair trade based on trust could escape larger trade disputes.
