Veronique de Rugy Warns of French Economy's Dire State Amidst Strikes

US-UK Trade Deal

• 🇬🇧 The United Kingdom was the first country with which the US made a historic trade deal under President Trump.
• 🤝 A historic technology prosperity deal was also signed to ensure both countries lead the next technological revolution.
• ⚠️ De Rugy expressed disappointment and surprise that Trump admitted Britain got the better end of the deal, with American consumers facing higher tariff rates.

French Economy Under Pressure

• 🇫🇷 Approximately 800,000 public sector workers in France are striking against the government's budget plans.
• 📉 The French economy is described as being in a bad and worsening state, heading towards a 116% debt-to-GDP ratio.
• 📊 Government spending is at 60% of GDP, with 30% allocated to social transfers and welfare.
• 🚫 Despite recognizing the problem, there is resistance to cutting spending, with the Birou government's attempt to keep things constant being perceived as too much.
• 💸 The government is considering a Zukman tax, another levy on high-income individuals, due to the failure to implement spending cuts.
• 🗣️ De Rugy notes that once a government gives something, it is almost impossible to take it back, especially in France currently.