Tags: traiff | trump | french | imports

US Proposes Tariffs on Up to $2.4 Billion in French Imports

US Proposes Tariffs on Up to $2.4 Billion in French Imports
(Zimmytws/Dreamstime)

Monday, 02 December 2019 06:27 PM

The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports — from Roquefort cheese to handbags — in retaliation for France’s tax on American tech giants like Google, Amazon and Facebook.

The Office of the U.S. Trade Representative says France’s new digital services tax discriminates against U.S. companies and says that the tariffs could reach 100%. The agency will accept public comment on the plan through Jan. 6 and hold a hearing Jan. 7.

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 750 million euros ($830 million) and French revenue exceeding 25 million euros.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Economy
The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports - from Roquefort cheese to handbags - in retaliation for France's tax on American tech giants like Google, Amazon and Facebook.
traiff, trump, french, imports
128
2019-27-02
Monday, 02 December 2019 06:27 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved