U.S. auto tariffs are very bad news for EU, says French Finance Minister

PARIS, March 27 (Reuters) - U.S. President Donald Trump's plan to impose a 25% tariff on imported cars and light trucks starting next week is "very bad news" and the only solution for now is for the European Union to raise its own tariffs, French Finance minister Eric Lombard said on Thursday.

Lombard, who was speaking on France Inter radio, said he hoped be able to discuss soon with his American counterparts in view of lowering those tariffs, adding a trade war would lead "to nothing".

Trump, who sees tariffs as a tool to raise revenue to offset his promised tax cuts and to revive a long-declining U.S. industrial base, said collections would begin on April 3.