The boycott that wasn’t

Following up on an earlier post on the American “boycott” of French imports.

Den Beste wrote last month:

In March [France] had a e97 million trade surplus with the US, but in April that became a e202 million trade deficit. A change that massive means either a dramatic rise in American sales to France, which seems unlikely, or a dramatic decline in French sales to the US, and it’s got to be a lot more than just wine and cheese. There isn’t any official boycott or trade sanctions, but there seems to be something big going on.

Something big? Sadly, no!

Let’s see if we can help:

either a dramatic rise in American sales to France, which seems unlikely

In April 2003, French imports from the US rose by 173 million euros compared to the previous month.

or a dramatic decline in French sales to the US, and it’s got to be a lot more than just wine and cheese.

Well, it was arguably dramatic, but it had nothing to do with wine and cheese. Deliveries of Airbus planes, a large share of French exports to the US, fell by 148 million euros in April compared to March.

Which leaves us with: increased US exports to France (+173) and fewer planes (-148) for a total change of 321 million euros. Nothing big going on — other than premature conclusions based on incomplete data that lent itself to misinterpretation.

Does anyone else see a pattern here?

 

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