Emmanuel Macron, the president of France, issued a warning that if Beijing does not rectify its growing trade imbalance with the EU, the European Union would be compelled to take "strong measures" against it, including possible tariffs.
In an interview with Les Echos published on Sunday, Macron said, "I'm trying to explain to the Chinese that their trade surplus isn't sustainable because they're killing their own clients, notably by importing hardly anything from us any more."
He said that he had spoken with Ursula von der Leyen, President of the European Commission, about the issue. "If they don't react, in the coming months we Europeans will be obliged to take strong measures and decouple, like the US, like for example tariffs on Chinese products," he said.

Macron recently returned from a three-day official visit to China, where he pushed for increased investment as Paris tries to rebalance its ties with the second-biggest economy in the world. The French Treasury reports that last year's goods trade deficit between France and China was approximately €47 billion ($54.7 billion). According to figures released earlier this year, China's goods trade surplus with the EU increased to about $143 billion in the first half of 2025, a record for any six-month period.
After Paris supported the EU's decision to slap tariffs on Chinese electric vehicles, tensions between France and China increased last year. In retaliation, Beijing set minimum prices for French cognac, raising concerns among dairy and hog farmers that they would be the next to be attacked.

"Life or Death"
Macron claimed that the US's "inappropriate" approach to China had made Europe's situation worse by pushing Chinese goods toward the EU market.
Macron stated, "Today, we're stuck between the two, and it's a question of life or death for European industry," pointing out that Germany, the largest economy in Europe, doesn't fully agree with France.
Macron stated that the European Central Bank has a part to play in bolstering the EU's single market in addition to Europe's desire to become more competitive. He argued that monetary policy should include growth and jobs rather than just inflation.

Additionally, he stated that the ECB's choice to keep selling the government bonds it owns runs the danger of raising long-term interest rates and negatively impacting the economy.

Macron stated, "Europe must — and wants to – remain a zone of monetary stability and credible investment."