U.S. Threat To French Wine Receding, But Not Lifted: Minister

www.oann.com | 7/29/2019 | Staff
tiazanne (Posted by) Level 3
PARIS (Reuters) – A U.S. threat to impose tariffs on French wine in response to a French tax on big digital companies is receding – albeit not lifted definitively, France’s finance minister said on Tuesday.

Finance Minister Bruno Le Maire and U.S. officials reached a deal on the sidelines of a G7 summit at the weekend in Biarritz, southwestern France, to end a standoff over the tax of 3% on revenues earned in France.

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Washington has said the tax unfairly targets U.S. internet giants like Google and Apple , and U.S. President Donald Trump has threatened to respond with tariffs on French wine.

“Before Biarritz, the threat was real, we were close to getting hit with a tariff on French wine … After Biarritz the threat has receded,” Le Maire told French TV station LCI.

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“It hasn’t been totally lifted but it is receding and it’s going to depend on the work we get done with my American counterpart in the coming days,” he added.

On Monday, Trump declined to say whether his threat of a wine tax was off the table.

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Le Maire said...
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