world-economy

France Pushes Back on US Tariff Plan, Eyes Trade Deal Completion

France's finance minister rejected a U.S. tariff proposal as unjustified Wednesday, expressing optimism that the move could accelerate a long-stalled trade agreement between Washington and the European Union. The proposed levies would range from 10% to 12.5% and affect approximately 60 trading partners, with select product exemptions included. The tariff announcement follows a separate legal dispute in which the U.S. Department of Justice challenged a court mandate over refund obligations for previously liquidated shipment entries. Meanwhile, global shipping markets show divergent patterns, with new containership capacity increasingly concentrated on Asia-Europe and Africa-focused routes rather than traditional transatlantic lanes.