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Trump says French wine may face ‘100 percent tariff' in response to tax on US tech firms: report


Added 08-18-19 05:29:02am EST - “How serious is President Trump about firing back at France over its new tax on U.S. technology? Maybe as much as 100 percent.” - Foxnews.com

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Posted By TheNewsCommenter: From Foxnews.com: “Trump says French wine may face ‘100 percent tariff’ in response to tax on US tech firms: report”. Below is an excerpt from the article.

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How serious is President Trump about firing back at France over its new tax on U.S. technology? Maybe as much as 100 percent.

During his visit to New York’s Hamptons for a fundraiser Aug. 9, the president reportedly told attendees he was thinking about hitting France where it may hurt most – by slapping a 100 percent tariff on French wine.

The president’s remarks, which two sources relayed to Bloomberg, were a follow-up to a Twitter message in late July, in which Trump wrote the U.S. planned “a substantial reciprocal action” against France for its digital tax on American tech.

That week, French President Emmanuel Macron approved what was called a digital services tax -- a 3 percent levy that targets global companies worth at least 750 million euros ($834 million) and 25 million euros in France. It will be retroactively applied from early 2019 and could generate up to 400 million euros per year for France.

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