Log in

France threatens EU retaliation over US wine tariff plan

Posted on Tuesday, December 3rd, 2019 By The Associated Press

PARIS (AP) — France’s finance minister is threatening a “strong European riposte” if the Trump administration follows through on a proposal to hit French wine, cheese, handbags and other products with tariffs of up to 100%.

The U.S. Trade Representative proposed the tariffs Monday in retaliation for a French tax on tech giants including Google, Amazon and Facebook.

French Finance Minister Bruno Le Maire said Tuesday on Radio Classique that the U.S. tariff threat is “simply unacceptable.” He said France has talked with the European Commission about EU-wide retaliatory measures.

He says the French tech tax is not discriminatory against the U.S. because it targets European and Chinese companies, too. France wants digital companies to pay their fair share of taxes in countries where they make money, and is pushing for an international agreement on the issue.

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Yahoo Gemini Pixel