He said there would be “retaliation measures” taken if the UK does not “deliver licenses [and] authorisation to access their waters for fishing”.
Mr Beaune, a key ally of President Emmanuel Macron, even said that the City of London could be targeted if the fishing dispute isn’t resolved, City AM reported.
He said: “We will give none – it is quid pro quo.
“The UK is expecting a number of authorisations from us on financial services. We will not give any until we have guarantees that, on fisheries and other issues, the UK respects its commitments.
“It’s give and take. It is necessary that each one respects its commitments, otherwise, we will be as brutal and difficult as necessary as partners.”
French fishermen were accused of “decimating” the Jersey coastline earlier this month as uncertainty looms over access to the Channel Island’s waters.
The Brexit trade deal gives Jersey the sole power over licences for all boats, but French vessels with historical fishing activity in Jersey waters will continue to have access and could still outnumber Jersey boats.
This arrangement replaced the Bay of Granville Treaty – an accord that was not popular with some in Jersey as it allowed French authorities to license their own boats to fish in the island’s waters.
Some groups, such as new City lobby group CityUnited, has called for the government to ditch concerns about equivalence and to instead pivot toward other overseas financial markets.
Bank of England governor Andrew Bailey recently said equivalence was the best-case scenario for the financial services sector, but that it wouldn’t be worth it if the UK had to be a regulatory rule-taker.
Mr Bailey said the UK must not become a mere “taker” of EU rules adding: “If the price of this is too high then we can’t just go for it whatever.”