Fourth export market in France in 2024, the United States imposed 20% customs taxes on the European Union on Wednesday, April 2. What to impact many sectors © AUNS85/Adobe Stock – Wine and cognac exports could be strongly impacted by the customs duties announced by Donald Trump. Safeguard safeguarded receiving Donald Trump the trade war between the United States and the European Union, more generally the rest of the world, is launched. Wednesday, April 2, Donald Trump launched a large-scale global commercial offensive without sparing the 47 billion euros in French exports in 2024 of goods to the United States, which will be taxed at 20%. The United States was in 2023 the fourth export market in France, behind Germany, Italy and Belgium, according to French customs. France imports more goods (52.5 billion euros in 2024) that it exported to the United States, and depends less on American exports than other European countries, like Germany (3.8% of its GDP against 1.6% France). But some sectors are particularly exposed to export to the United States, and may suffer from 20% customs duties announced on Wednesday. Read also: Bourse: Will Trump customs duties weigh the nasdaq giants? The aeronautics sector a fifth of France’s exports to the United States are linked to aeronautics. France has exported for 9 billion euros in goods in the category “aircraft and spacecraft” in the United States in 2024. The group of French aeronautical and space industries (GIFA), a voice of the sector, told AFP to remain “cautious”, after the advertisements of customs rights, and says they wait to learn the methods of their application, different. Certain parts are assembled in a country with components from other regions of the world before being exported to the United States, which makes the equation even more difficult to apprehend, argues the organism. European Airbus aircraft manufacturer, whose operational headquarters are located in Blagnac, told AFP on Thursday “potential impacts.” The industrial giant could be partially protected by its industrial location on site: it inaugurated in 2015 a final assembly plant in Mobile (Alabama, South), from which, at the end of 2024, 500 single -off A320 and A220. It also produces helicopters and spatial equipment in the country. To read also: Customs rights: “We must protect our sectors which will be penalized”, according to the CPME 15 billion dollars of parts purchased by Airbusairbus argues that it buys each year for more than $ 15 billion in parts to its 2,000 American subcontractors, distributed in 40 states, and claims that it thus supports 275,000 jobs in the United States. Its American industrial footprint should further grow in 2025 with the planned inauguration of a second final assembly line for the A320, which will create “1,000 new jobs” in the Gulf of Mexico region. Dassault Aviation, a French aircraft manufacturer who sells between a third and half of his private jets in the United States, had indicated in early March that his results forecasts for 2025 largely depended on the level of customs duties in the United States. The luxury and its flagship lvmhentre perfumes, products for toilet, and leather goods, France exported for 4.5 billion euros of goods related to luxury in the United States in 2024. All French luxury goods, particularly popular in the United States, are not necessarily exports. Among the major French flagships, the LVMH giant have production sites in the United States, where he achieves a quarter of his turnover. The luxury clientele, often easy, is also less sensitive to the price, and therefore to a possible increase in customs duties. “The house is almost 190 years old, we have experienced customs duties …”, also relativized in mid-February the manager of the luxury group Hermès Axel Dumas. To read also: Customs rights: the EU has the means to retaliate, promises Ursula von der Leyen Le Cognac and wine on the front line worldwide for its wines from Bordeaux, Burgundy or Champagne, France massively exports its alcohols to the United States. In 2024, some 2.4 billion euros in “grape wines” crossed the Atlantic for the United States, to which we must add 1.5 billion euros of “distilled alcoholic beverages”, in particular cognac. The French Federation of Exporters of Wine and Spirits fears a decline of around 800 million euros in exports. Donald Trump seems to have abandoned the idea of a 200% taxation of European alcohols he had considered in mid-March. The FEVS still judges that the United States’s decision to apply a general customs right of 20% on all products imported from the European Union “will cause extremely heavy consequences”. To read also: Double penalty for the French cognac now banished from duty-free Chinese pharmacy? Pharmaceutical products also contribute greatly to French exports to the United States: 3.6 billion euros in 2024. But the White House said in the evening that certain categories were not affected by new customs duties announced on Wednesday, including pharmaceutical products. Receive our latest news each morning, the information to be remembered on the financial markets. (Tagstotranslate) Donald Trump (T) Commerce (T) Customs (T) Wine (T) Cognac
