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The synergy, flow and timing of the U.S. trade and economic team is just a marvel; a brilliant assembly of perfectly in-tune economic and trade professionals.
As President Trump touched down in the U.K. to attend the two-day NATO summit, United States Trade Representative Robert Lighthizer announces the completion of a Section 301 review of France’s Digital Services Tax (DST).
Value - Tax - US - Internet - Services
After determining the value of the French tax on U.S. internet services at $2.4 billion; Lighthizer announces a 100% countervailing duty on a carefully selected $2.4 billion in French imports.
Obviously the agenda for the bilateral NATO meeting between U.S. President Trump and French President Emmanuel Macron just changed. LOL, you have to love Team USA.
Oh, but wait, wait… it gets better….
We have to remember, THIS $2.4 billion U.S. tariff against France would be on top of the $7.5 billion (per year) countervailing duty recently won from the Airbus subsidy case in the WTO…. and by law France cannot retaliate.
President - Trump - NATO - Bilat - Macron
Oh my, President Trump strolls into the NATO bilat with Macron while holding a $10 billion legally justified countervailing tariff position. How’d ya like ‘dem grapes?
Remember those stunts Macron pulled at the G20 meeting in France when he first showed up unannounced at the hotel for lunch to discuss “climate issues“; and then invited the Iranian Foreign Minister to a goofy external bilat; trying to set-up/pressure POTUS?
Comeuppance - Time
Oh comeuppance thy time is now.
Washington, DC – The U.S. Trade Representative has completed the first segment of its investigation under section 301 of the Trade Act of 1974 and concluded that France’s Digital Services Tax (DST) discriminates against U.S. companies, is inconsistent...
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