PARIS, April 6 (Bernama-TASS) -- Duties introduced by United States (US) President Donald Trump may cost the French economy more than 0.5 per cent of GDP, Russian News Agency (TASS) reported, citing France’s Prime Minister Francois Bayrou in an interview with local media.
"The policy of President Donald Trump will cost France more than 0.5 per cent of GDP," Bayrou said in an interview with the Le Parisien newspaper.
The dramatic increase in tariffs made by the US President threatens by job cuts, "economic slowdown and termination of investments," the prime minister said.
"Destabilising actions of the US will weaken the global economy for long," he stressed.
On April 2, Trump announced customs duties on products from 185 countries and territories.
Universal tariffs at a rate of 10 per cent will come into force on April 5.
Individual ones will be in effect from April 9. Tariffs on imports from France will amount to 20 per cent.
-- BERNAMA-TASS
