ENGLISH SPEECH | EMMANUEL MACRON: A Message To Trump (English Subtitles)

Opening Remarks and Context

Introduction to the Gathering

• The speaker expresses gratitude and happiness to be present at the event, addressing various dignitaries including heads of state, ministers, and business leaders.

• Emphasizes the current global climate as one of instability and imbalance from both security and economic perspectives.

Global Challenges Identified

• Highlights a shift towards autocracy over democracy, with over 60 wars recorded in 2024, marking an unprecedented level of conflict.

• Discusses the normalization of conflict and a world increasingly devoid of rules where international law is disregarded.

The State of International Relations

Weakening Multilateralism

• Points out that multilateralism is being undermined by powerful nations that either obstruct or withdraw from collective governance efforts.

• Describes competition from the U.S. through trade agreements that threaten European interests, alongside China's industrial practices impacting global markets.

Need for Cooperation

• Argues for increased cooperation as a solution to these challenges, advocating for greater economic sovereignty among European nations.

Proposed Solutions

Rejecting Passive Acceptance

• Warns against passively accepting dominance by stronger powers which could lead to subservience or colonial-like conditions.

Advocating Effective Multilateralism

• Stresses the importance of defending effective multilateralism as it aligns with France's interests and those who oppose forceful rule.

France's Role in Global Governance

Commitment to Sovereignty

• Affirms France’s commitment to national sovereignty while supporting international cooperation under established frameworks like the UN Charter.

G7 Presidency Goals

• Outlines France's ambition during its G7 presidency to restore dialogue among major economies for cooperative solutions amidst rising protectionist sentiments.

Addressing Economic Imbalances

Key Economic Issues

• Identifies imbalances caused by American overconsumption, Chinese underconsumption, and European underinvestment as critical issues needing attention.

Responsibility in Cooperation

• Emphasizes that cooperation should not involve blaming others but rather taking responsibility for shared challenges within the global economy.

Strategic Focus Areas for Europe

Three Pillars of Strategy

• Proposes three strategic pillars: protection (not protectionism), simplification, and investment aimed at enhancing European competitiveness against global rivals.

European Trade and Industry Protection Strategies

The Need for a Level Playing Field

• Europe is currently not protecting its own companies and markets against unfair competition from other countries, which undermines industries like chemicals and automotive.

• There is an urgent need to adopt realistic measures to safeguard European industries that are being harmed by non-compliance with fair trade practices.

Utilizing Existing Tools for Protection

• Europe possesses strong tools, such as the anti-co mechanism, which should be deployed to ensure compliance with trade rules in today's challenging environment.

• The principle of European preference is being developed to create a competitive edge similar to North American preferences, with initial examples already emerging in recent decisions.

Strengthening Trade Defense Instruments

• In light of escalating trade tensions and overcapacities from Asia, Europe must enhance its trade defense instruments, including mirror measures that enforce regulatory standards on imports.

• It’s essential to improve the quality of foreign direct investments (FDIs) targeting projects with significant export potential as part of rebalancing efforts with China.

Diversifying Supply Chains

• Protecting economies requires a resilient strategy focused on diversifying supply chains for critical materials like rare earth elements and semiconductors while reducing dependency on single sources.

Simplification of Regulations

• A simplification agenda is crucial across various sectors including automotive, chemicals, digital technology, AI, and banking; this includes removing outdated regulations that hinder competitiveness.

• Ensuring technological neutrality and nondiscrimination within the EU will help streamline operations across different energy sources and technologies.

Investment in Innovation

• To bridge the innovation gap between Europe and the US—where 65% to 70% of GDP per capita differences stem from innovation—Europe needs increased public and private investment in critical sectors like AI and green technology.

• A focus on securitization programs and capital market union is necessary to mobilize savings for investment in innovation within Europe rather than outside it. This approach aims at enhancing economic credibility through accelerated implementation strategies.

Electricity Supply and Innovation in Europe

Overview of Europe's Energy Landscape

• Europe has a stable low-carbon electricity supply, exporting 90 terawatt hours of low-carbon electricity based on its nuclear model last year.

• The region boasts world-class innovation and research capabilities, particularly in sectors like AI, quantum computing, and energy transition.

• A vibrant ecosystem of startups, unicorns, and large companies is present within these innovative sectors.

Infrastructure and Market Strength

• Europe features high-quality infrastructure coupled with a large market that possesses strong purchasing power.

• The rule of law and predictability are emphasized as key advantages for investment opportunities in the region.

Commitment to Global Cooperation

• There is a commitment to addressing global imbalances through enhanced cooperation by 2026.

• The speaker advocates for increased investments in defense and security to foster growth and stability across Europe.

Values Emphasized

• The speaker expresses a preference for respect over bullying, science over populism, and rule of law over brutality.

• An invitation is extended to welcome international partners to Europe, particularly France.