PARIS  – French President Emmanuel Macron will convene all representatives of business sectors hit by the import tariffs announced Wednesday by U.S. President Donald Trump at the Elysee palace later in the day, the French presidency said on Thursday.

Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States – with a higher 20% rate for the European Union – kicking into high gear a global trade war that threatens to drive up inflation and stall U.S. and worldwide economic growth.

Sales of French wine and spirits are expected to slide at least 20% in the United States Trump announced reciprocal tariffs, the French wine and spirits exporters group FEVS said on Wednesday.

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