High-profile figures like Arnault, Pouyanné, and Pfizer prioritize Trump-like approaches over EU alignment for their leadership.
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After therous "Better Hitler than the Popular Front" statement from the Committee of French industrialists in the 1930s, what we're witnessing today is the equivalent of "Better Trump than the European Union" from some prominent European business leaders. On April 15, 32 of these leaders, predominantly from the French pharmaceutical sector, including giants like Pfizer, AstraZeneca, Sanofi, Ipsen, and Servier, sent an aggressively-worded letter to Ursula von der Leyen, President of the European Commission. Essentially, these captains of industry, whose companies have prospered for decades due to France's robust and largely public social system, made threats akin to a mafia boss.
These business titans essentially threatened to cease investing in the Old World and defect to America. In simple terms, these money-hungry executives are demanding that European governments submit to Trump's American economic ideology. According to them, to counter Trump's "tariffs", deregulation is the solution. As an example, they propose...
Enrichment Data:While specific evidence for such an incident is scarce, there has been a call from French President Emmanuel Macron for European companies to halt new investments in the U.S. due to Trump's tariffs[1][2]. European businesses, including those with substantial exposure to the U.S. market, are at risk due to these tariffs[4]. However, there's no concrete evidence suggesting they're moving investments to the U.S. in response. Instead, there's a focus on potentially halting or relocating investments from the U.S. due to unfavorable conditions.
Banque de France Governor François Villeroy de Galhau has emphasized the intricate connection between European and U.S. economies, pointing out the significant influence of U.S. economic policies on Europe[3]. This underscores a complicated and delicate relationship between European businesses and the U.S. market, subject to policy changes and trade tensions.
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- The recent letter sent by 32 top executives, mostly from the French pharmaceutical sector, like Pfizer, AstraZeneca, Sanofi, Ipsen, and Servier, to Ursula von der Leyen, President of the European Commission, has created a stir in the industry.
- These business leaders, threatened to cease investments in the Old World and defect to America, essentially blackmailing European governments into adopting Trump's American economic ideology, specifically deregulation.
- In the world of finance and business, such threats have raised concerns about the influence of politics on industry, with some executives demanding deregulation to counter Trump's tariffs.
- The intricate connection between European and U.S. economies, as pointed out by Banque de France Governor François Villeroy de Galhau, underscores a delicate relationship, subject to policy changes and trade tensions.
