Bloomberg Businessweek

Macron Gives In To the Yellow Vests

The French president’s reform plans are in peril after violent protests
Gilets Jaunes on Avenue Foch in Paris

Emmanuel Macron thought voters wanted a leader who remained above the fray—“to preside, not govern,” as he put it during his 2017 campaign. Now, after three weeks of nationwide demonstrations and violent clashes in the heart of Paris, the 40-year-old French president has been swept up in the fray, and he risks losing his ability to deliver the economic and political renewal he promised.

On Dec. 4, Macron suspended a planned fuel tax hike that sparked the Gilets Jaunes, or Yellow Vests, movement, named for the safety vests French drivers must keep in their cars. The concession didn’t appease

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