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has a $10 billion legally authorized tariff hammer from the WTO Boeing Case ($7.4 billion/yr) and the USTR 302 finding ( $2.9 billion/yr Digital Service Tax).
So this is essentially Macron taking a knee. 'Emmanuel from France' had no option. pic.twitter.com/3gdb5mGJPg
— TheLastRefuge (@TheLastRefuge2) January 21, 2020
on digital tax. We will work together on a good agreement to avoid tariff escalation.— Emmanuel Macron (@EmmanuelMacron) January 20, 2020
Earlier today President Trump and French President Emmanuel Macron had a phone call about the pending French digital services tax on U.S. companies, and USTR Lighthizer’s pending $2.4 billion 100% countervailing duty against high-end French products:
Where “avoid tariff escalation” means Macron just took a knee. He really has no choice.
United - States - Trade - Representative - Robert
United States Trade Representative Robert Lighthizer calculated a $2.4 billion pending tariff, at a rate of 100%, against select high-end French products as a result of France’s desperation for tax revenue and deciding to tax U.S. digital services.
The WTO already handed the U.S. legal authority against the EU for a $2.5 billion annual tariff against the EU...
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