Luxury goods, medicines, aeronautics, gastronomy... These flagships of French industry are threatened by the 30% customs duties set by Donald Trump.
Cars, planes, wines, luxury bags... Key sectors of the European economy risk being hit by the 30% customs duties announced Saturday, starting August 1st, for European Union products if they go into effect.
US President Donald Trump justifies these customs tariffs by a trade imbalance between the United States and the EU to the detriment of Americans.
The US-EU trade relationship represents 30% of global trade , with 1.68 trillion euros of goods and services exchanged in 2024, according to the European Commission.
DrugsPharmaceutical products are the most exported goods from Europe to the United States (22.5% of the total in 2024 according to Eurostat) and are currently exempt from customs duties imposed by Washington.
Several pharmaceutical groups have already announced investments in the United States to strengthen their production there, while asking the EU to relax its regulatory framework.
AutomobileThe United States is also a "key market" for the European automotive industry, which exported nearly 750,000 cars there in 2024, worth €38.5 billion, according to the European Automobile Manufacturers' Association (ACEA).
Germany produces the majority of these exported cars, including premium sedans, SUVs and sports cars from Audi, Porsche, BMW and Mercedes.
In 2024, for example, the United States accounted for 23% of Mercedes' revenue: the manufacturer also produces its SUVs there, which it exports outside the country. These also risk being affected by European retaliation.
Deliveries to the United States by European giant Volkswagen have already fallen sharply in the first half of the year, following an initial wave of customs duties.
AeronauticsCurrent US tariffs are already weighing heavily on the highly globalized aeronautics sector.
Since March 12, a 25% customs surcharge has been applied to imports into the United States of aluminum and steel, key materials in the aeronautics industry.
And all products (including aircraft) imported from Europe must pay a 10% surcharge.
At the Paris Air Show in early June in France, Airbus boss Guillaume Faury hoped to reset them, as did his counterpart at the American company Boeing, Kelly Ortberg.
"We are not able to pass these costs on to our customers," Kelly Ortberg said in an interview with Aviation Week at the end of May.
The agreement, which was being negotiated this week between the EU and the United States, before Donald Trump's warning shot on Saturday, was expected to include exemptions for aeronautics, alcohol and cosmetic products.
LuxuryThe luxury sector has remained relatively quiet in its reactions in recent months, but the impact of the tariffs could be serious.
LVMH, the world's leading luxury goods company, generates a quarter of its sales in the United States (and 34% of its wine and spirits sales). Its CEO, Bernard Arnault, had called on European leaders to resolve trade tensions "amicably," even saying he was "in favor" of "a free trade zone" with the United States.
The French group already owns three Louis Vuitton workshops and four workshops for the American brand Tiffany in the United States.
Hermès, known for its Birkin bags and silk scarves, had indicated that it would "fully" offset the first 10% customs duties imposed in April by Donald Trump by increasing its sales prices in the United States.
But 30% is another matter.
CosmeticsFrench and Italian perfumes and cosmetics are popular in the United States.
In 2024, L'Oréal generated 38% of its annual revenue in the country. It produces just under 50% of its products locally, according to its management, and what is imported into the United States mainly concerns luxury goods (Lancôme, Yves Saint Laurent, Armani, etc.).
In April, L'Oréal's CEO mentioned the possibility of relocating "part" of its production to the United States.
Gastronomy and winesThe 30% tariff is a "death blow" to "Made in Italy" food, Italy's main agricultural union, Coldiretti, said on Saturday, suggesting a price impact on consumers.
According to its projections, "with customs duties of 30%, additional tariffs for some iconic Made in Italy products would reach 45% for cheeses, 35% for wines, 42% for processed tomatoes, 36% for stuffed pasta and 42% for homogenized jams and preserves."
This has an impact on Italian companies, as importers in such cases demand discounts, the union points out.
On the French side, the United States represents the leading international market for the wine and spirits sector, with a total of 3.8 billion euros in 2024, according to their federation (FEVS).
"It would be a catastrophe for the entire sector, in a situation where wines and spirits are already facing enormous difficulties," said Jérôme Despey, head of the viticulture branch of the FNSEA union, on Saturday.
"We have often seen threats from the United States, we are asking the European Commission not to give up in the negotiations," he told AFP.
Italy and France, with a surplus of $44 billion and $16.4 billion respectively according to the Americans (but for France a deficit of a few billion, according to customs statistics), would a priori be less affected.
But the impact varies from one sector of activity to another within each of these two economies.
The food and wine industries would be particularly affected in both countries, with significant commercial opportunities. This is also the case for Spain.
Like Germany, Italy could also be concerned about its automotive sector. For example, the Franco-Italian manufacturer Stellantis (Fiat and Peugeot in particular) has suspended its forecasts for the year due to these uncertainties.
Among the most exposed French sectors are also aeronautics, luxury goods (perfumes, leather goods, etc.), wines and cognac.
Airbus, whose operational headquarters are located in Blagnac, in southwest France, for example, claims to be the "largest customer of American aerospace industry exports."
Var-Matin
