'I’ve always said American wine is better than French wine!' Trump tweets that U.S. will hit France with 'substantial' action for digital tax
WASHINGTON/PARIS - U.S. President Donald Trump said on Friday the United States would hit France shortly with a “substantial reciprocal action” - and warned a new American tax on French wine was possible - after Paris announced a tax aimed at U.S. technology companies.
Later in the Oval Office, Trump told reporters the tax decision was wrong and he threatened the key French export. The United States is by far the largest single export market for French wine and spirits, which is France’s second-biggest export after aerospace. The United States in 2018 accounted for nearly a quarter of all French wine exports, or 3.2 billion euros’ worth.
He added “the administration is looking closely at all other policy tools.” Last week, Trump spoke with Macron and expressed concerns about the country’s proposed digital services tax, the White House said. Two weeks ago, the French Senate approved the 3% levy that will apply to revenue from digital services earned in France by firms with more than 25 million euros in French revenue and 750 million euros worldwide.
The U.S. Chamber of Commerce said the tax “targets U.S. firms almost exclusively and largely spares French companies. We have repeatedly urged European governments to address this issue multilaterally in negotiations at the OECD.”
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