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Thursday, October 28, 2021

President Trump Proposes Tariffs on Up to $2.4-B in French Imports


The Trump Administration is proposing tariffs on up to $2.4-B worth of French imports in retaliation for France’s tax on American tech giants like Google, Amazon and Facebook.

The Office of the US Trade Representative says France’s new digital services tax discriminates against US companies and says that the new tariffs could reach 100%.

The agency will accept public comment on the plan through 6 January and hold a hearing 7 January.

The French tax is designed to prevent tech companies from dodging taxes by putting headquarters in low-tax European countries. It would impose a 3% annual levy on French revenues of digital companies with yearly global sales worth more than $830-M and French revenue exceeding EUR 25-M.

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