(BFM Stock Exchange) – The CAC 40 is decreasing slightly on Monday, July 14 after Donald Trump threatened to apply customs duties of 30% to European imports on August 1. But the market puts this threat into perspective.

The Paris Stock Exchange gives way but does not fold. Its main index, the CAC 40 abandons 0.6% at the start of the afternoon at 7,782.59 points this Monday, July 14. The volumes remain low, due to the absence of many market operators due to a holiday in France.

Investors dissect information from the weekend about customs duties. President Donald Trump announced that he was intended to establish customs duties of 30% on imports from the European Union and Mexico from August 1.

“To be honest, a month ago, Trump threatened the European Union to impose customs duties of 50%, so it could be said that it is an improvement! The market generally thinks that it is a negotiation tactic and that such prices are unlikely to be applied,” comments Jim Reid from Deutsche Bank.

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Brussels delay

“We believe that the Trump administration uses this last climbing customs to maximize its negotiation power and that it will eventually defuse the situation, especially if the volatility of the bond markets and scholarship holders increases again,” abounds UBS.

For the time being, the United States applies a floor rate to European imports of 10%. Donald Trump warned that he would further increase customs duties hitting Europe, if the block were to retaliate.

Brussels, for his part, wants to lead to an agreement. The European Union is delayed for the moment as to a possible counter-offensive. The president of the European Commission, Ursula von der Leyen, said that Europe still intended to favor “a negotiated solution”. “This remains the case and we will use the time we now have until August 1,” said the head of the European executive on Sunday.

“Our basic hypothesis remains that the two parties will probably reach an agreement before August 1, or that the administration will repel the deadline again while negotiations continue,” judges UBS. “However, the apparently maximalist and aggressive requirements of the American president – in particular ‘full and open access to the market in the United States, without any customs rights’ – make it difficult to forecast the response of the European Union. There is now a significant risk of climbing commercial tensions between Europe and the United States, which would be harmful for both economies,” said the Swiss bank.

Hermès steps back

On the values side, Hermès abandoned 1.8% leaded by a lowering of Jefferies recommendation to “keep” against “buy” previously.

The defensive values are well oriented. Danone takes 1.4% and Danone wins 0.7%. Defense values, such as Dassault Aviation (+1.9%) and Thales (+1%), can be worn by Emmanuel Macron’s announcements. The President of the Republic announced on Sunday, 3.5 billion euros in additional defense expenses for 2026 and 3 billion for 2027.

Excluding CAC 40, Rémy Cointreau gives 4%. The group of spirits had experienced a good flight in these last sessions, carried out partly by hopes of agreement between the European Union and the United States which would avoid heavy customs from European alcohols. The threat verbalized by Donald Trump, this weekend, reminds that everything is not won and can push the market to take part of the recent benefits on the title.

Valneva wins 8% after the European health authority has raised its temporary restrictions on the use of the group’s vaccine against chikungunya among those over 65.

Eurazeo won 2.4% after announcing a CPK transfer project, the parent company of several candy brands, to a subsidiary of Ferrero.

In the other markets, the euro is almost stable against the dollar at 1.1696 dollars. Oil is advancing a little. The September contract on the Brent de Mer of the North takes $ 1.1% at $ 71.16 a barrel while the August that on the WTI on the WTI in New York advances 1.2% to 69.25 dollars per barrel.