WASHINGTON (Reuters) – The U.S. government on Monday said it could slap additional duties of up to 100% on $2.4 billion in French imports of Champagne, handbags, cheese and other products, after concluding that a new French digital services tax would harm U.S. tech companies.
The U.S. Trade Representative said its investigation found that the French tax was “inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected U.S. companies”, including Alphabet (NASDAQ:) Inc’s Google, Facebook (NASDAQ:), Apple (NASDAQ:) and Amazon (NASDAQ:). U.S. Trade Representative Robert Lighthizer said the U.S. government was also exploring whether to open similar investigations into the digital services taxes of Austria, Italy, and Turkey.
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.