Any headline that uses the phrase “France Warns” immediately requires a background review to understand the big picture driving French fears.
Just like Canadian Prime Minister Justin Trudeau thinking he could outwit President Trump’s policies on NAFTA trade (he failed), Trudeau’s bestie, French President Emmanuel Macron, has stupidly exhibited similar shortsightedness.  In the case of both leaders their weasel moves have put their nations’ into a precarious economic position.
To consider the future for France, it would be wise to remember last year when President Trump arrived to attend the G-7 in Biarritz, France, President Macron was waiting at the Hotel du Palais to ambush Trump for an unscheduled luncheon (pictured below):

This was just one example in a series of scripted weasel-moves played by Macron in an attempt to pontificate his importance for the international audience.  Another example from the same event was Macron inviting the Iranian foreign Minister to the G7 for sideline meetings unrelated to the topics being discussed in Biarritz.
In an effort to create leverage against the U.S. position, President Macron never discussed his Iranian invitation -in advance- with the U.S. delegation.  It did not go over well.
The EU, and specifically France, have a dependence on foreign energy sources as a result of their ridiculous climate policies and narrow thinking.  In essence the EU wants to do business and receive oil from Iran; however, U.S. sanctions against Iran forbid those business deals.  Ergo Macron attempted to inject influence and position his interests.
As stated, the ambush approach did not go well, but POTUS played it cool.
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The 2020 Davos economic conference will be a little more important to watch this year (as it was in 2017) due to the completed U.S. Trade Agreements (S Korea, Japan, Mexico, Canada, and China) and the predicted focus for the Trump administration to pivot from Asia to the EU and U.K. for the next critical phase of the ‘America-First’ global trade reset.

As a result of the recent U.K. election, pending Brexit, a favorable $7.5 billion WTO ruling and USTR Lighthizer’s new $2.4 billion EU targeted tariff program, the administration has significant advantages going into a trade discussion with the EU in 2020.
Team USA has the world’s strongest economy, the largest market, legally bolstered tariff authority and a quiver full of powerful economic arrows.
Meanwhile Team EU has: (1) the UK leaving; (2) severe drops in German industrial manufacturing; (3) a shrinking French economy; (4) yellow-vests in the streets; and (5) demands for greater economic autonomy from many key member states.
Overlay Germany, France and Italy large economy challenges such as: their promise to meet NATO obligations – and their attachment to the strangling Paris Climate Treaty, and the EU’s collective economic position is precarious at best.

WHITE HOUSE – Today, President Donald J. Trump announced the Presidential Delegation that will attend the World Economic Forum in Davos-Klosters, Switzerland, from January 20 to January 24, 2020.

The Honorable Steven Mnuchin, Secretary of the Treasury, will lead the delegation.

Members of the Presidential Delegation:

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Great interview with United States Trade Representative Robert Lighthizer as he described the goals, objectives and outcomes of the USMCA and U.S-China Phase One agreements.
While answering a question about Wall St. journal criticism of the USMCA, Lighthizer discussed the dynamic of Wall Street -vs- Main Street as part of the bigger picture objective in the revised deal. He avoids the words “globalism” -vs- “nationalism” but the sentiment as described is there.
On China Lighthizer emphasizes the “phase one” deal is really a test to see if it is even possible to have an enforceable trade agreement between a communist state-run economy (China) and a free-market economy (U.S).

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Last night President Trump congratulated Prime Minister Boris Johnson on his great win in the U.K. election, noting the possibilities for a big trade boost are “massive”:

Not accidentally, the geopolitical economic and trade planets have aligned splendidly.   The cornerstone USMCA agreement has bipartisan support and will ratify quickly in congress.  A “phase one” trade agreement with China is likely, and prior plans for a strategic trade deal with the U.K. have increased as a result of the U.K. election.
First rule in geopolitics, it’s always about the economics.  Second rule in geopolitics: refer to rule #1.    Understanding this basic truism is the key to understand how President Trump is able to be so effective.  There are trillions at stake, and many interests.

“Economic security is national security.” ~President Trump

All politics circles back to the underlying economics; whether it is an individual financial self-interest for a specific politician, or whether it is a larger financial interest for a group or even a nation.  Everything is always about the money; and that essential truth is why Donald Trump is so uniquely qualified, influential and stunningly effective.
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Commerce Secretary Wilbur Ross appeared on CNBC earlier today to discuss the status of U.S-China trade discussions, the latest issues with tariffs on French goods, and the bigger picture issues within the EU that we previously discussed.
Ross highlights the additional tariffs on China scheduled for December 15th are currently still planned to take effect unless something substantial changes in the position of China.  Additionally, and interestingly on the French and EU tariffs, Secretary Ross reminds the financial pundits of the $7.5 billion WTO authorized award against the EU that would be in addition to the $2.4 billion in tariffs now scheduled for French products.

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Pay attention to what Ross says in that interview; the administration is being remarkably open and consistent.  Given the adversarial position exhibited by French President Emmanuel Macron today; and against the backdrop of continual EU intransigence on trade reciprocity; I suspect once the USMCA is passed we are going to see a *severe* shift in tone within the U.S. trade position toward both China and the EU.
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The primary hypocrite behind the self-serving European NATO position is French President Emmanuel Macron.  With the background of massive new U.S. tariffs expected against French products President Macron comes for a bilateral meeting and press availability with U.S. President Donald Trump.  [Video and Transcript Below]

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[Transcript] –  PRESIDENT TRUMP: Well, thank you very much. It’s great to be with President Macron of France. And we’ve had a fairly long relationship and a very good one. And we were just discussing certain things, and then we’re going to have a long conversation afterwards.

I want to, first of all, before we begin, I want to pay my respects to the great warriors that you lost in Mali — 13, and helicopters. It was very sad. I’ve gotten a report on it. We talked about it. And please give my condolences to the families and to France. And they’re great fighters. You’ve done a fantastic job in that whole area. It’s a tough area. So we appreciate it very much.

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The synergy, flow and timing of the U.S. trade and economic team is just a marvel; a brilliant assembly of perfectly in-tune economic and trade professionals.
As President Trump touched down in the U.K. to attend the two-day NATO summit, United States Trade Representative Robert Lighthizer announces the completion of a Section 301 review of France’s Digital Services Tax (DST).
After determining the value of the French tax on U.S. internet services at $2.4 billion; Lighthizer announces a 100%  countervailing duty on a carefully selected $2.4 billion in French imports.
Obviously the agenda for the bilateral NATO meeting between U.S. President Trump and French President Emmanuel Macron just changed.  LOL, you have to love Team USA.
Oh, but wait, wait… it gets better….
We have to remember, THIS $2.4 billion U.S. tariff against France would be on top of the $7.5 billion (per year) countervailing duty recently won from the Airbus subsidy case in the WTO…. and by law France cannot retaliate.
Oh my, President Trump strolls into the NATO bilat with Macron while holding a $10 billion legally justified countervailing tariff position.  How’d ya like ‘dem grapes?
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The leaders of the twenty-nine NATO member nations are scheduled to meet next week in London, England.  Amid consistent pressure on the member states for increased defense spending to live up to their prior 2014 promises (Wales summit); and with NATO economies in a stalled geopolitical stasis due to their attachment to China (5G telecom), Russia (Nordstream II), and Iran; this summit holds increased possible ramifications.
This NATO summit could very well expose the duplicity and hypocrisy of the EU depending on how far U.S. President Donald Trump is willing to call them out.
There are going to be a lot of nervous snake handlers around the table(s), and with the U.K. elections in the near future there is a great deal at stake. The summit is Tuesday and Wednesday.  Here’s the White House background briefing:
[Transcript] – SENIOR ADMINISTRATION OFFICIAL: Good morning, ladies and gentlemen. I just want to thank everyone for being here today, Friday after Thanksgiving.
Just up front, this call is going to be on background, attribution to a senior administration official, and there will be an embargo on the contents of this call until it’s completed.
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Earlier today President Trump met with Italian President Matarella and held a press availability in the oval office prior to bilateral discussions. [Video and Transcript below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. It’s a great honor to have the President of Italy with us. He is a man of great distinction. He’s highly respected in this country. And it’s nice to have you at the White House. Thank you very much, Mr. President.

We’ve had a great relationship with Italy for a long time. I don’t think it’s ever been closer than it is now. We have won a $7.5 billion award from, as you know — I guess it’s been pretty big news. And I know that this is against the European Union and World Trade — good ole World Trade. For a long time, they’ve been taking advantage of the United States. And I know Turkey is going to talk to us about their share of it because they feel they shouldn’t have to pay so much.

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President Trump prefers to use targeted economic weapons instead of the U.S. military forces against foreign adversaries.  In keeping with this strategy President Trump is announcing a set of economic sanctions and tariffs against Turkey for their decision to cross into Syria and create a crisis amid all regional interests.  (Source)
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