August 24, 2019 / 1:30 PM / a month ago

France's Macron says Europe looking at 'new tax cuts' to stimulate growth

French President Emmanuel Macron delivers a speech on environment and social equality to business leaders on the eve of the G7 summit in Paris, France August 23, 2019. Michel Spingler/Pool via REUTERS

BIARRITZ, France (Reuters) - French President Emmanuel Macron said on Saturday Europe will “probably” decide to launch new tax cuts to kick-start a flagging economy threatened by a tit-for-tat trade war between the United States and its global partners.

“When I look at Europe especially, we need some new tools to relaunch our economy,” Macron told U.S. President Donald Trump before a working lunch in Biarritz where G7 leaders are gathering for the weekend.

“We will probably decide to have new tax cuts, which is one of these ways to relaunch ... (in coordination),” he added, without elaborating.

Macron’s office did not immediately return a request for comment.

Reporting by Michel Rose; Editing by Leigh Thomas

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