USA proposes tariffs on French products following France's digital tax

USA proposes tariffs on French products following France's digital tax

USA proposes tariffs on French products following France's digital tax

It comes amid fresh trade disputes with France, Brazil and Argentina.

Robert Lighthizer said the tariff decision "sends a clear signal that the United States will take action against digital tax regimes that discriminate or otherwise impose undue burdens on USA companies".

Paris/London: France and the European Union said on Tuesday they were ready to retaliate if US President Donald Trump acted on a threat to impose duties of up to 100% on imports of champagne, handbags and other French products worth $2.4 billion.

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

If the U.S. decides to move against French goods, the Commission spokesperson said that the European Union "will act and react as one, and will remain united".

Around 30 companies would be affected, including European, Chinese and American firms.

Governments, including Washington, are frustrated that big digital companies can book earnings in low-tax countries such as Ireland regardless of where the end client is.

Le Maire said France will reimburse the tax if the U.S. agrees to the global tax plan.

The tech trade group ITI said it welcomed the administration's decision and urged continued negotiations on worldwide taxes under the auspices of the Organization for Economic Cooperation and Development. "It does not only target USA companies but also Chinese or European companies". "We'll see what happens".

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She said farmers are aware of the monumental changes the Trump administration is trying to achieve with China and are focused instead on trying to secure other deals, like the US-Mexico-Canada Agreement, which the three countries completed a year ago but has yet to pass Congress.

"I'm not going to let people take advantage of American companies", Trump said Tuesday.

The three-month truce agreed between Trump and Emmanuel Macron during the G7 summit in Biarritz (France) in August, expired last week. The official announcement of DST also describes it as the "GAFA Tax" and explains that its goal is mainly to "catch contributions of companies who get a significant part of their value from the participation of French located web users".

Another potential threat to the outlook emanating from USA policy is a currency war, in which nations go against their Group of 20 pledges and target foreign-exchange rates for domestic economic benefit.

Lighthizer had also warned that Washington was considering widening the investigation to look into similar taxes in Austria, Italy and Turkey.

Lighthizer said that "strong action" was needed to address this European subsidies, after a WTO compliance report concluded that Europe did not fully terminate the financial aid given to Airbus. The list of French products subject to potential duties includes an approximate trade value of $2.4 billion.

If there is no deal or substantial progress in talks before December 15, tariffs on remaining Chinese imports - including mobile phones, laptop computers and toys - will take effect, Ross told United States business news network CNBC on Tuesday.

"The question being raised is, 'are we really trying to get to a solution with China or is this really all about raising tariffs?'"

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