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Factbox: France and others plan tax clampdown on digital giants

8 monthes ago   |   By Reuters

U.S. President Donald Trump's administration threatened to impose duties of up to 100% on French imports worth $2.4 billion after it concluded a tax on digital services imposed by Paris would be "unusually burdensome" for U.S. technology companies.
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France, EU ‘ready to retaliate' against US tariffs

France, EU ‘ready to retaliate' against US tariffs

8 monthes ago   |   By New York Post

France and the European Union are “ready to retaliate” if the US follows through with threats to slap tariffs on $2.4 billion in imports of champagne, handbags and other French products. French Finance Minister Bruno Le Maire on Tuesday called the threat - announced Monday following a probe that found France's new digital service tax...
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Explainer: Macron's quest for an international tax on digital services

8 monthes ago   |   By Reuters

The United States has threatened punitive duties of up to 100% on $2.4 billion in imports from France of champagne, handbags, cheese and other products, after concluding that France's new digital services tax would harm U.S. technology companies.
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French luxury stocks are diving after Trump threatens $2.4 billion in tariffs on champagne and handbags

French luxury stocks are diving after Trump threatens $2.4 billion in tariffs on champagne and handbags

8 monthes ago   |   By Business Insider

French luxury stocks dropped on Tuesday after US President Donald Trump threatened to slap tariffs on $2.4 billion worth of wine, cheese, handbags, cosmetics, and other French exports.
LVMH, Christian Dior, and Kering dropped about 2%, while Hermès slumped 2.6%, wiping a combined $9 billion from the four companies' market capitalizations.
The Trump administration proposed the tariffs in retaliation to France's new digital services tax, which is set to take a 3% bite out of the French revenues of US tech titans such as Apple, Google, Amazon, and Facebook from the start of next year.
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