Macron Signals Potential EU Tariffs on China as Trade Imbalance Soars

French President Emmanuel Macron has warned that the European Union may be forced to impose “tough measures,” including possible tariffs on Chinese goods, if Beijing fails to curb its rapidly widening trade surplus with Europe.

In an interview with Les Echos published Sunday, Macron said he has repeatedly told Chinese officials that the current imbalance is “unsustainable,” arguing that China risks “killing its customers” by importing too little from the EU while flooding the European market with its own products.

“If they don’t respond, we Europeans will in the coming months have to take strong measures and decouple, as the United States has done, by imposing tariffs on Chinese products, for example,” Macron said. He added that he has already discussed the matter with European Commission President Ursula von der Leyen.

Macron returned this week from a three-day state visit to China, during which he urged increased Chinese investment as Paris attempts to recalibrate its relationship with the world’s second-largest economy.

France’s goods trade deficit with China reached €47 billion (US$54.7 billion) last year, according to the French Treasury. Meanwhile, China’s surplus with the entire European Union surged to nearly US$143 billion in the first half of 2025, the largest ever recorded for any six-month period, according to Chinese government data.

Tensions between Paris and Beijing have escalated since the EU moved last year to impose tariffs on Chinese electric vehicles. China retaliated by introducing minimum-price requirements on French cognac exports, sparking fears among pork and dairy producers that further agricultural sectors could be targeted next.

Macron criticized the U.S. approach to China, arguing that American policy has pushed more Chinese exports toward European markets, exacerbating the EU’s vulnerabilities.

“Today, we are stuck between the two, and the situation is a matter of life or death for European industry,” he said, noting that Germany, Europe’s largest economy, does not fully share France’s position.

Alongside calls for greater competitiveness within Europe, Macron said the European Central Bank has a significant role to play in bolstering the EU’s single market. He insisted that monetary policy must consider growth and employment, not inflation alone.

He warned that the ECB’s ongoing reduction of its sovereign bond holdings risks pushing up long-term interest rates, potentially weakening economic activity.

“Europe must remain, because it seeks to remain, a zone of monetary stability and reliable investment,” Macron said.