WASHINGTON, D.C — (07-13-20) — While Americans are dealing with huge unemployment, inflation prices and a stock market acting like a roller coaster, the Trump administration imposed 25% tariffs on $1.3 billion (€1.1 billion) worth of French goods on Friday.
Trump administration officials said on Friday that it will freeze the collection of the new tax due to the coronavirus pandemic. Needless to say, French Finance Minister Bruno Le Maire (pictured above), wasn’t impressed by the jester from the Trump administration.
The new 25% tariffs aka Tax on Americans, are being issued over France’s tax on large tech companies that the Trump administration says are unfairly targeting American companies.
According to a Euronews report: “The French law, named “Gafa” for Google, Amazon, Facebook, and Apple, imposes a 3% tax on companies’ digital turnover (advertising and commissions) in France and concerns companies that make at least €750 million globally and €25 million in France.”
French President Emmanuel Macron stated back in January that he had an “excellent discussion” with president Trump and that they would “work together to form an agreement to avoid any escalation of tariffs. It appears the agreement fell through.
Article by: Paul Goldberg, Staff Writer
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