Industry / Market / U.S. / Technology

USTR announces duties on $1.3B in French goods in tax dispute

Posted On: Jul 10, 2020   |   Posted By: Politico

USTR announces duties on $1.3B in French goods in tax dispute

The Trump administration announced Friday a 25 percent tariff on $1.3 billion worth of French handbags, cosmetics and soaps in retaliation for a digital services tax on U.S. internet giants, but said it would suspend imposing them for up to six months.
The United States believes the way the French tax is structured unfairly targets large U.S. internet companies like Facebook, Google and Amazon. However, other countries are increasingly determined to find a way to collect revenue from firms that earn billions of dollars in their markets.
A leading U.S. technology group welcomed the action, which was announced in a Federal Register notice .
“Today's action sends a strong message that discriminatory taxes aimed at US companies are not a path to modernizing the global tax system,” Matt Schruers, president of the Computer and Communications Industry Association, said in a statement. “Changes to international tax rules must be negotiated in good faith through a consensus-based approach at the OECD that addresses...

Continue reading ...

 








President Trump says TikTok sale can go through - but only if the US gets a cut

President Trump says TikTok sale can go through - but only if the US gets a cut

The president on Monday set Sept. 15 as the deadline for TikTok to find a U.S. buyer, failing which he said he will shut down the app in the country. Read more ...

7 Cardinals, 6 staff test positive; series at Detroit off

7 Cardinals, 6 staff test positive; series at Detroit off

Seven St. Louis Cardinals players and six staff members have tested positive for COVID-19, causing Major League Baseball to postpone the team's four-game series at Detroit. Read more ...

Oldest living Marine celebrates 105th birthday

Oldest living Marine celebrates 105th birthday

The oldest living Marine had a special birthday celebration on Friday. Read more ...

Big 12 says football teams will play 10 games, including one non-conference game

Big 12 says football teams will play 10 games, including one non-conference game

Conference play is expected to in September. Read more ...

'My son's death cannot be in vain': Judge whose family was attacked details...

'My son's death cannot be in vain': Judge whose family was attacked details her son's last words

The federal judge whose son was killed and whose husband was shot at their home last month called for greater privacy protections for judges in her first comments since the... Read more ...

Prosecutor says he's justified in seeking President Trump's taxes

Prosecutor says he's justified in seeking President Trump's taxes

A Manhattan prosecutor trying to get President Donald Trump's tax returns told a judge that he was justified in demanding them, citing public reports of “extensive and... Read more ...

Dwayne Johnson buys XFL in $15 million deal

Dwayne Johnson buys XFL in $15 million deal

The XFL began its season earlier this year, before being forced to shutter operations in March due to the coronavirus pandemic. Read more ...

Braves lose ace Mike Soroka for season with torn Achilles

Braves lose ace Mike Soroka for season with torn Achilles

The Mets finished their win over Atlanta with three starters' health in question - the Braves weren't so lucky. Atlanta lost its ace Mike Soroka for the season after he... Read more ...

Votto homer lifts Reds to 3-2 win over Indians

Votto homer lifts Reds to 3-2 win over Indians

CINCINNATI - Joey Votto hit a two-run, go-ahead homer, Nick Castellanos also connected and the Cincinnati Reds beat Cleveland 3-2 Monday night as the Indians played again... Read more ...

Golden Knights rally for 5-3 round-robin win over Stars

Golden Knights rally for 5-3 round-robin win over Stars

EDMONTON, Alberta - Will Carrier scored the tiebreaker with 5:12 left in the game, Robin Lehner had 24 saves and the Vegas Golden Knights beat the Dallas Stars 5-3 in Western... Read more ...