French finance minister urges US to renounce threatened sanctions on France, warning of possible EU retaliation
French Finance and Economy Minister Bruno Le Maire visits a shopping area Rue Montorgueil in Paris to talk about the economic impacts of the strikes, January 3, 2020
President Donald Trump last month threatened to punish Paris for a new tax on tech giants such as Netflix and Amazon, unveiling sky-high retaliatory duties on $2.4 billion of French wines, makeup and leather handbags. Finally, Le Maire wrote to US Trade Representative Robert Lighthizer to urge him to not impose sanctions on France.Virtual economy, real tax
In August, France agreed to refund any taxes collected in excess of the yet-to-be-decided international formula. Le Maire called on the United States to seek a global solution to the problem of firms generating massive revenue with online sales and paying little in taxes via negotiations underway at the Organisation for Economic Co-operation and Development.
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