Tag Archives: France

France ready to take Trump’s tariff threat to WTO: Le Maire

France ready to take Trump’s tariff threat to WTO: Le Maire

© Reuters. FILE PHOTO: French Finance Minister Bruno Le Maire attends a news conference in Boulogne-Billancourt

PARIS (Reuters) – France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.

“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told France 3 television.

Paris has long complained about U.S. digital companies not paying enough tax on revenues earned in France.

In July, the French government decided to apply a 3% levy on revenue from digital services earned in France by firms with more than 25 million euros in French revenue and 750 million euros ($845 million) worldwide.

It is due to kick in retroactively from the start of 2019.

Washington is threatening to retaliate with heavy duties on imports of French champagne, cheeses and luxury handbags, but France and the European Union say they are ready to retaliate in turn if Trump carries out the threat.

Le Maire said France was willing to discuss a global digital tax with the United States at the Organisation for Economic Cooperation and Development (OECD), but that such a tax could not be optional for internet companies.

“If there is agreement at the OECD, all the better, then we will finally have a global digital tax. If there is no agreement at OECD level, we will restart talks at EU level,” Le Maire said.

He added that new EU Commissioner for Economy Paolo Gentiloni had already proposed to restart such talks.

France pushed ahead with its digital tax after EU member states, under the previous executive European Commission, failed to agree on a levy valid across the bloc after opposition from Ireland, Denmark, Sweden and Finland.

The new European Commission assumed office on Dec. 1.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source : Reuters Link

French unions launch chaotic nationwide strikes

Unions in France have launched open-ended, nationwide strikes against the government’s plan to reform the retirement system (Dec. 5) Subscribe for more Breaking News: http://smarturl.it/AssociatedPress Website: https://apnews.com Twitter: https://twitter.com/AP Facebook: https://facebook.com/APNews Google+: https://plus.google.com/115892241801867723374 Instagram: https://www.instagram.com/APNews/ ​ You can license this … read more

France braces for massive strikes and transportation disruptions starting Dec. 5 – The Washington Post

France braces for massive strikes and transportation disruptions starting Dec. 5 – The Washington Post France braces for massive strikes and transportation disruptions starting Dec. 5  The Washington Post Macron pension reform: France braces for severe disruption amid strike  BBC News General … read more