While the end of negotiations for customs taxes must end on August 1, more than 2,000 companies could be affected by an increase in prices. A concern that affects as much giants like Airbus or LVMH, as for sectors like leather.
The trade war does not weaken between the United States and Europe. The deadline set for August 1 is dangerously closer and no agreement has yet been reached between the two parties. Except that in France, 2,000 companies should be impacted by this increase in customs taxes. Companies that could lose up to 10% of their turnover.
Astronomical losses for giants
Sectors are particularly affected. The leather sector, for example, produces almost 60% of its margins across the Atlantic, by making 900 million annual profits on the American market. Customs duties of 10% would then represent a loss of turnover of almost 100 million euros, and almost 300 million in the event of an surcharge at 30%.
A situation that would also affect French industrial giants, such as Airbus or LVMH.
France, which remains less exposed than Germany, including almost 4% of the gross domestic product (GDP) depends on the American market, but it is a collateral victim of the Trumpist obsession for the trade deficit.
“The paradox is that we are in deficit vis-à-vis the United States, while the rest of Europe is surplus. In quotes, we pay for the European surpluses on which Donald Trump wants to type”, analyzes the economist Thomas Gerbine.
In 2024, France had exported 48 billion euros in goods to the United States, or around 1.5% of its GDP.