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US wants to impose tariffs on 2.1 billion French products

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US wants to impose tariffs on 2.1 billion French products

The United States wants to impose US $ 2.4 billion (US $ 2.1 billion) customs duties on imports of French products, Bloomberg said. This is a response to the so-called "Google tax" decided by Paris. and aimed at forcing major technology platforms – such as Google, Apple or Facebook – to pay a tax on the revenue they earn on French territory.

It is recalled that, in the absence of agreement at European level, some countries – notably France and Italy, but also Spain – announced that they would move unilaterally with the creation of a new tax on Internet giants.

At issue is the direct application of a 3% provisional tax on revenues from companies such as Alphabet (owner of Google) or Facebook in advertising space, the intermediary activities and the sale of private data that currently escape taxation in Europe.

This new advance information tonight is expected to bring more pressure to markets on Tuesday's journey.

US decisions on the trade front continue to focus the attention of the markets and this week's investor fears have intensified around the world.

On the one hand was the US-China negotiation for a partial trade agreement that would prevent a new batch of tariffs from entering into force on December 15. This agreement, called "phase one", has been progressing and retreating, which has contributed to greater uncertainty in the markets. Faced with the possibility of no agreement this month, there is a growing fear that the tariffs scheduled for less than 15 days from now will be triggered.

On the other side was Donald Trump's new threat to impose increased tariffs on steel imported from Brazil and Argentina.

This dispute on several levels dictated the negative evolution of the exchanges in this first session of the month of December. And not just in the US: In Europe, equity markets saw the biggest drop in two months.

Now, with information about the US proposal to additionally tax the equivalent of € 2.1 billion of French products, the climate of skepticism is worsening.

Donald Trump looks set to fire on several fronts, as Bloomberg has also advanced tonight that the US is also considering investigating Turkey, Austria and Italy for this digital tax.

(news in update)

. (tagsToTranslate) USA (t) France (t) Rates (t) United States

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