France hopes EU will reach tariff deal with US 'this weekend'

AIX-EN-PROVENCE - France's finance minister said on Saturday he hoped the European Union would reach a deal on tariffs with Washington "this weekend".

EU and US negotiators are holding final stretch talks over the weekend as Brussels chases a deal before a 9 July deadline to avoid the return of steep tariffs.

"On tariffs, it could all be decided this weekend," said French Finance Minister Eric Lombard, speaking at an economic forum in southern France.

"If not, Europe will undoubtedly have to respond more vigorously to restore the balance," he said.

Without a deal, the default levy on EU imports is set to double to 20 percent or even higher - US President Donald Trump having threatened at one point to slap 50 percent duties.

EU chief Ursula von der Leyen said on Thursday Brussels sought an agreement in principle, which would mean further talks would be necessary on the details.

But the commission believes that whatever happens, an imbalance in trade measures between the EU and the United States will remain.

It is "essential" for the European Union to protect its industries from the United States and China, said Lombard.

"Imagine the world as a playground where everyone is playing ... and following the rules," he said.

"And then three bullies come along and don't follow any rules... and push around the children who were playing nicely. That's the world of predators," he said, referring to the US, Russia and China.