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The EU is “ready to respond” to US threats to impose tariffs of up 100% on French imports, including wine and cheese.
After French lawmakers voted to impose a tax on large tech companies, the US warned it would fire back with tariffs on goods imported from France.
On Monday, the Office of the US Trade Representative said the tariffs could target $2.4 billion (€2.2 billion) in imports, including cheese, wine, and handbags. The rate could also reach 100%.
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The French digital tax aims prevent tech companies from dodging taxes by reporting their earnings in low-tax EU countries. The measure would hit a total of 30 companies from various countries, including China, Germany, and the UK. However, most of the targeted companies are US-based, including Google, Amazon and Facebook.
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COMMENTS VIA TWITTER
Heard on the Street: The White House is in the final stages of deciding if it will slap 100% tariffs on $2.4 billio… https://t.co/KtkM0MppSy
@pujamehra And how will this help our economy? Trump's move to increase tariff on French luxury goods was a retalia… https://t.co/ZtTpSS3Wt6
RT @WSJ: Heard on the Street: The White House is in the final stages of deciding if it will slap 100% tariffs on $2.4 billion worth of Fren…
@ChrisStirk Trump already squeezing France: "The US, the second-biggest overseas destination, is threatening 100 pe… https://t.co/AKfPqo7fwm
RT @TaxNotes: [email protected]: Punitive U.S. tariffs on French goods won’t convince France to abandon its digital services tax (#DST). But…