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François Bayrou deplores “a dark day” and “a submission” after the signing of the trade agreement between the United States and the European Union, Sunday, July 27. If it were validated by the 27, many European countries entering American soil would be taxed up to 15 %. With what consequences for the sectors affected in France?
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Among the sectors affected hard by new customs duties at 15 %, the cosmetics industry. For a French company that manufactures and sells displays for luxury creams or perfumes, America represents 65 % of turnover. 15 % taxes, this overcome its selling prices across the Atlantic. “We add the dollar that has depreciated, and we arrive around 25 %”explains Arthur Hagiage, president of GK Concept. As a result, the company is looking for other outlets to export. “We tend to want to diversify our product category to reach other markets. For example, we start to export more to Latin America or Asia”underlines the business manager.
It is not only cosmetics or luxury that will be impacted by new customs duties. All manufactured or agricultural products are affected. But there are exceptions: aeronautics, where certain natural resources are exempt. This could be the case with semiconductors, pharmacy, spirits or wines. But nothing is certain at this stage.
For a champagne producer, a 15 %tax, it is not insurmountable. The main thing is to have a little visibility. “Compared to yesterday, we took a little more than 10 %, since in fact we were 4.8 %before Trump. Today, we are 15 %. Well, and then the story is not finished at all”Comments Cédric Moussé, manager SARL FAMILY MOUSSÉ. The match is indeed not over. Because Europe can still respond to these customs duties imposed by Donald Trump.
This Monday morning on France Inter, Laurent Saint-Martin, the Minister of Foreign Trade, does not exclude taxing certain services marketed by the United States. “This agreement is not balanced, and therefore we will have to continue working, in particular on the Services part, in particular digital services”He said at the station’s microphone. For the moment, this customs agreement has not yet entered into force. The 27 countries of the European Union must ratify it.
