French President Emmanuel Macron has hailed the U.S. Supreme Court's decision to strike down President Trump's emergency tariffs as a victory for the rule of law, while simultaneously preparing for a new 10% global tariff on French exports. Speaking from Paris's annual agricultural salon, Macron emphasized the importance of judicial counterweights for global market stability. The ruling removed 25% emergency levies that had threatened French margins.

The French government is now pivoting to a strategy of reciprocity to protect its core export sectors, including luxury goods, aeronautics, and agriculture. LVMH and Kering face renewed uncertainty as they monitor potential secondary measures, while Airbus remains central to transatlantic trade negotiations. Macron stressed that France will not passively accept unilateral trade shifts, signaling potential European Union coordination if the new baseline tariffs prove punitive.

With the "tariff holiday" ending before it truly began, Macron's comments reveal that the SCOTUS ruling is viewed as a legal reset rather than a permanent solution. The French President's insistence on reciprocity suggests Paris will aggressively defend its market share in luxury and technology sectors. Investors are now watching how calmly Washington and Paris can negotiate the new 10% global baseline, which directly impacts France's most valuable industries.