Friday, March 29, 2024
 
 

Macron, Trump agree to hold off on a potential tariffs war

EPA-EFE/CHRISTIAN HARTMANN / POOL
French President Emmanuel Macron arrives at the second day of an European Council summit in Brussels, Belgium, 13 December 2019.

- Advertisement -

French president Emmanuel Macron said he had a “great discussion” with US president Donald Trump over France’s planned digital tax.
“They agreed to give a chance to negotiations until the end of the year. During that time period, there won’t be successive tariffs”, a French official said.
Macron added both sides would work together to avoid a rise in tariffs. “France is pursuing its objective of fair taxation on digital companies and finding a compromise within the framework of the OECD”, the country’s government said.
Last year, France decided to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than €25 million euros in France and €750 million euros worldwide. In November, the US government announced that it may impose punitive duties of up to 100% on $2.4 billion in imports from France of champagne, handbags, cheese and other products.
France has promised that an international deal on digital taxation reached within the OECD would immediately replace the French tax. The White House confirmed that Trump and Macron agreed to complete successful negotiations on the digital services tax.

- Advertisement -

Subscribe to our newsletter

Latest

U.S. condemns latest PRC actions in South China Sea as dangerous

Coming just days after U.S. Secretary of State Antony...

With Sweden now a NATO member, what’s next?

Sweden completed the necessary diplomatic formalities on March 7,...

Inaugural B5+1 Forum launched to boost regional trade and investment

On March 13-15, government policymakers, business leaders, experts, and...

Don't miss

U.S. condemns latest PRC actions in South China Sea as dangerous

Coming just days after U.S. Secretary of State Antony...

With Sweden now a NATO member, what’s next?

Sweden completed the necessary diplomatic formalities on March 7,...

Inaugural B5+1 Forum launched to boost regional trade and investment

On March 13-15, government policymakers, business leaders, experts, and...

U.S. zeroes in on Houthi revenue sources

The U.S. Government made several announcements this month regarding...

U.S. condemns latest PRC actions in South China Sea as dangerous

Coming just days after U.S. Secretary of State Antony Blinken visited Manila (March 19), Washington released on March 23 a strongly worded statement of...

Inaugural B5+1 Forum launched to boost regional trade and investment

On March 13-15, government policymakers, business leaders, experts, and investors from C5+1 countries inaugurated the first-ever Business 5+1 (B5+1) Forum which was held in...

U.S. zeroes in on Houthi revenue sources

The U.S. Government made several announcements this month regarding new sanctions on Houthi revenue sources, building on steps taken in coordination with the U.K....

U.S. joins International Coalition for the Return of Ukrainian Children

On March 7, the office of the spokesperson at the U.S. Department of State issued a media note, clearly meant to be circulated in...

Intellexa Commercial Spyware Consortium sanctioned

The U.S. Government announced on March 5 a new set of sanctions on the members of the Intellexa Commercial Spyware Consortium based across Europe....

Zimbabwe: U.S. reconfigures sanctions to focus on corruption and human rights

On March 4, three separate U.S. Government Departments/Agencies issued Zimbabwe-specific sanctions guidance, demonstrating how complex and intertwined U.S. sanctions legislation has become and how...

Russia sanctions remain a powerful tool to support Ukraine’s defense

Western leaders should not dismiss the two-year long sanctions campaign (as opposed to the 2014 Crimea sanctions) as unsuccessful simply because the Kremlin has...

New U.S. Russia sanctions widen scope, adding 500 new targets

The U.S. State Department released a comprehensive list of new sanctions measures on February 23, clearly the culmination of months of preparation in order...