Brazil's Bolsonaro asks Trump to be more understanding on tariffs

Adjust Comment Print

French Finance Minister Bruno Le Maire said the us tariff threat is "simply unacceptable".

USA trade officials proposed a wave of tariffs on French goods Monday as they released a report finding that a new French tax on digital services - affecting large American tech companies such as Facebook and Google - represents a barrier to trade.

He also noted that France will reimburse the tax if the US agrees to the global tax plan.

Translated, Le Maire told the radio station: "If there are any new American sanctions, the European Union will be ready to hit back".

According to a report from the Office of the US Trade Representative, officials allege that France's Digital Services Tax "discriminates against USA companies, is inconsistent with prevailing principles of global tax policy, and is unusually burdensome for affected USA companies".

The French DST is inconsistent with prevailing tax principles on account of its retroactivity, its application to revenue rather than income, its extraterritorial application, and its goal of penalizing particular US technology companies.

The US president was already on the warpath against Macron over his recent comments that North Atlantic Treaty Organisation was experiencing "brain death", which Trump said were "very, very nasty".

"Effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the USA from those countries".

This issue risks adding to tensions between France and the United States, after Trump also took umbrage at comments by President Emmanuel Macron casting doubt on the effectiveness of North Atlantic Treaty Organisation.

Shares in French luxury companies fell in response to the tariff threat against French champagne, handbags, cheeses and other products.

Steelers, Browns let their shirts do the trash talking for rematch
That's the only thing people need to be concerned about. "I've done much worse". This victory pushed Pittsburgh to 7-5 on the season. My daughters wanted me to wear the shirt.

The USTR has claimed the tax - which is aimed at the top line of "digital companies with revenue of more than €750m" - discriminates against American companies.

A Commission spokesperson said on Tuesday (3 December) that the European Union will seek "immediate discussions to solve this issue amicably" to prevent a dispute at the World Trade Organisation.

Lighthizer added that he's considering similar investigations against other nations, such as Austria, Italy and Turkey.

The decision to pursue tariffs "sends a clear signal that the United States will take action against digital tax regimes that discriminate or otherwise impose undue burdens on U.S. companies", U.S. Trade Representative Robert Lighthizer said.

Speaking at a North Atlantic Treaty Organisation summit on Tuesday, Mr Trump said he had "no deadline" for striking an agreement with Beijing.

US President Donald Trump says the NHS is not and will not form any part of a UK-US trade deal.

With a flurry of trade threats across three continents in the span of 24 hours, President Donald Trump reminded financial markets that he's comfortable heading into an election year using tariffs as his main source of worldwide economic leverage.

The agency will accept public comment on the plan until January 6 and hold a hearing on January 7.

"I'm doing very well, if I want to make a deal, I don't know that I want to make it, they're going to find out pretty soon".

Comments