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

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© Reuters. French President Emmanuel Macron delivers a speech during the G7 summit in Paris© Reuters. French President Emmanuel Macron delivers a speech during the G7 summit in Paris

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 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.

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Source: Investing.com