Trump threatens & # 39; mutual action & # 39; on the French taxation of American technology companies
Trump threatens & # 39; mutual action & # 39; on the French tax of American technology companies and then insults their wine
- Trump threw France for imposing a 3 percent tax on US technology companies
- He also insulted their wine
- & # 39; & # 39; France has just imposed a digital tax on our major US technology companies. If someone puts a tax on them, it should be their home country, the US, & Trump tweeted
- He added: & # 39; I have always said that American wine is better than French wine! & # 39;
- Trump doesn't drink, but he owns a winery in Virginia
- On Wednesday, French president Emmanuel Macron signed a 3 percent law on the income of technology companies such as Facebook, Google and Amazon.com
President Donald Trump threw France on Friday for levying a 3 percent tax on US technology companies and added even more that American wine was better than French wine.
& # 39; France has just imposed a digital tax on our major US technology companies. If someone puts a tax on them, it should be their home country, the US. We will soon announce substantial mutual action on Macron's folly. I always said that American wine is better than French wine!, & He wrote on Twitter.
Trump does not drink but owns a winery in Virginia.
President Trump threw France for imposing a 3 percent tax on US technology companies and then insulted their wine
French President Emmanuel Macron has signed this measure this week
On Wednesday, French president Emmanuel Macron signed a 3 percent law on the income of technology companies with a worldwide turnover of around $ 845 million – which would apply to companies such as Facebook, Google and Amazon.com.
The French expect to collect $ 563 million in income from the tax.
The White House doubled its criticism by issuing a statement slamming France for hitting American companies.
& # 39; The United States is very disappointed with France's decision to introduce a tax on digital services at the expense of US companies and employees. The unilateral measure of France seems to focus on innovative American technology companies that provide services in various sectors of the economy, said the White House spokesperson, Judd Deere.
& # 39; Trump's administration has consistently stated that it will not be unemployed and will tolerate discrimination against US-based companies. The US sales representative has already started a Section 301 investigation into the French tax on digital services and the administration is looking carefully at all other policy instruments, & he added.
It is unclear why the President added the wine insult to his tweet, since the French tax does not concern wine, although it is possible that he hinted at what could be the target of his & # 39; mutual action & # 39 ;.
An American retaliation in the form of taxes on French goods could again lead the United States into a trade war.
The president owns the 227-acre Trump Winery near Charlottesville, Va. His son Eric Trump took over the lead after Trump entered the White House.
Trump bought the property in April 2011 and produces 36,000 cases of wine per year.
American technology companies have become targets in Europe and are accused of being monopolies.
Trump had ordered an investigation into the French tax while it is making its way through the French legislator – before Macron signed the law.
Trump winery near Charlottesville, Va.
Trump bought the winery in April 2011
The winery produces 36,000 cases of wine per year
In a statement on Wednesday, US trade representative Robert Lighthizer said the US would investigate whether the French tax was discriminatory or unreasonable and taxed or restricted trade in the United States.
The French said they would determine their own taxes.
& # 39; France is a sovereign nation that determines its own tax rules. And this will remain the case, & quot; French Finance Minister Bruno Le Maire said a few weeks ago, when the US warned France not to introduce the tax.
Both Lighthizer and Finance Minister Steve Mnunchin called Le Maire prior to a vote in the French senate to warn him that America would investigate such a tax.
Amazon.com, whose owner Jeff Bezos is a frequent target of Trump & # 39; s Twitter anger, praised the administration on Wednesday for investigating the issue.
& # 39; We applaud the Trump government for taking decisive action against France and for signaling to all US trading partners that the US government will not adhere to tax and trade policies that discriminate against US companies & # 39 ;, it said company in a statement.
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