France Reluctantly Rejects Push for New TTIP-Like Trade Agreements with the U.S.

In a recent statement, officials from French President Emmanuel Macron's office have indicated that France is not advocating for the immediate revival of a transatlantic free trade agreement, reminiscent of the failed Transatlantic Trade and Investment Partnership (TTIP). French Economy and Finance Minister Éric Lombard suggested that while Europe and the U.S. should aspire to achieve a genuine free-trade agreement, this should be viewed as a long-term objective rather than a pressing issue. He articulated that France's current priority is the withdrawal of existing U.S. tariffs, which were recently imposed amidst global trade tensions. According to an anonymous official, the Trump administration seems uninterested in long-term negotiations, emphasizing immediate solutions instead. Lombard's remarks surprised many, especially given France's critical role in the collapse of TTIP negotiations between 2013 and 2016. Furthermore, discussions have emerged about potentially avoiding a trade war with the U.S. through what Lombard labeled a 'win-win' solution, despite hesitation from Paris to engage deeply in trade discussions with the Mercosur bloc in South America. The European sentiment towards a new deal appears lukewarm, with only select officials like German Chancellor Olaf Scholz fostering support. It's evident that France remains cautious, preferring to navigate the complexities of international trade with a strategic approach focused on specific negotiations rather than broad agreements. This ongoing dialogue highlights the intricate balance Europe is attempting to maintain between trade partnerships and safeguarding its economic interests, particularly in the wake of recent tariff escalations.