#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. U.S. Trade Representative Robert Lighthizer’s office concluded last year that France’s digital service tax was unreasonable, discriminatory and a burden on U.S. commerce. It also laid out a list of $2.4 billion worth of French goods — including Champagne, cheeses, handbags, soaps and fine dinnerware — that could be hit with retaliatory duties as high as 100 percent.
WHO: Tedros cites ‘moral catastrophe’ due to disagreements in vaccine distribution197Yesterday, 23:15
Sheldon Adelson Dies at 87, a Giant in the Casino-Resort Industry217912.01.2021, 19:15
EU and UK sign post-Brexit cooperation agreement (video)531730.12.2020, 14:30
Erdogan: Turkey and the United Kingdom will sign a free trade deal on December 29295329.12.2020, 13:30
Elon Musk says that he wanted Apple to buy Tesla during the company's 'darkest days,' but Tim Cook wouldn't take the meeting475225.12.2020, 00:30
U.S. sanctions Turkey over purchase of Russian S-400 missile system427715.12.2020, 00:50