Trump ponders tariffs on French wines in retaliation for tech firm tax

“France put on a tax on our companies … wrong thing to do. They should not have done that,” Trump stated, referring to a tax not too long ago authorised by France’s Parliament. It will institute a 3% tax for large technology companies on income earned in France starting January 2020.

“I’ve always liked American wines better than French wines. Even though I don’t drink wine. I just like the way they look, OK?” Trump added. “American wines are great, and they didn’t do the right thing when they start taxing our companies. We tax our companies, they don’t tax our companies.”

Nonetheless, the President stated he maintains a superb relationship with French President Emmanuel Macron, including that he had simply spoken with the chief.

“But they shouldn’t have done this. They’re used to taking advantage of the United States, but not with me as President,” Trump continued.

“It might be a wine, it might be on something else,” the President stated later within the interview. “We’ll be announcing that fairly soon.”

The President steered the tariffs might come earlier than the upcoming G7 assembly, which is able to happen in France.

Earlier this month, the Workplace of america Commerce Consultant’s introduced a so-called Part 301 investigation, warning that the French tax on tech corporations might discriminate in opposition to American corporations.
The President made the same risk final month, claiming on CNBC that “France charges us a lot for the wine,” and later including that “it’s not fair. We’ll do something about it.”
The commerce consultant’s workplace can also be already proposing new tariffs on the European Union value some $four billion. The tariffs, introduced earlier this month, would cowl 89 merchandise together with meat, cheese, pasta, fruits, espresso and whiskey.

They may very well be added to an inventory of EU exports value $21 billion that the commerce workplace stated in April could be topic to tariffs.

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Maegan Vazquez

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