Dismay in France As Trump Mulls Tariffs on French Wines in Response to Tech Taxes

CNS News | 7/28/2019 | Staff
SweetStuff33 (Posted by) Level 3
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Paris (CNSNews.com) – French wine industry representatives reacted with dismay at the weekend to President Trump’s threat to slap tariffs on French wines in response to Paris’ decision to apply a tax on U.S. tech companies, while the government here sought to play down the rift.

“France just put a digital tax on our great American technology companies,” Trump tweeted on Friday. “If anybody taxes them, it should be their home Country, the USA. We will announce a substantial reciprocal action on [President Emmanuel] Macron’s foolishness shortly.”

Vote - Lawmakers - Percent - Tax - Turnover

He was responding to a vote by French lawmakers approving a three percent tax on turnover earned in France of tech giants including the so-called GAFA companies – Google, Amazon, Facebook and Apple.

Trump floated the idea of placing a tariff on French wines in response.

Wine - Wine

“I’ve always said American wine is better than French wine!”

French media outlets criticized Trump for his choice of words directed at Macron.

Economy - Minister - Bruno - Le - Maire

But Economy Minister Bruno Le Maire, who authored the legislation, tried to play down potential problems, saying on Saturday, “We want to work closely with our American friends on universal taxation of digital activities.”

He added that France hopes to reach an agreement with the U.S. by the time a G7 summit takes place in southern France on August 24-26. It brings together the world’s biggest economies – the U.S., Britain, France, Japan, Germany, Italy and Canada. This year’s main focus is on fighting income and gender inequality and protecting biodiversity. Trump and Macron are due to meet on the sidelines.

White - House - Press - Release - Friday

The White House said in a press release on Friday that Trump and Macron had spoken by phone – reportedly after the tweet was posted – and that the French GAFA tax was raised. The statement made no...
(Excerpt) Read more at: CNS News
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