US proposes tariffs on up to $2.4 billion in French imports

sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more

WASHINGTON (AP) — The administration is proposing tariffs on up to $2.4 billion worth of French imports — from Roquefort cheese to handbags — in retaliation for France’s tax on American tech giants like Google, Amazon and Facebook.

The Office of the U.S. Trade Representative says France’s new digital services tax discriminates against U.S. companies and says that the tariffs could reach 100%. The agency will accept public comment on the plan through Jan. 6 and hold a hearing Jan. 7.

The French tax is designed to prevent tech companies from dodging taxes by putting headquarters in low-tax European countries. It would impose a 3% annual levy on French revenues of digital companies with yearly global sales worth more than 750 million euros ($830 million) and French revenue exceeding 25 million euros.

all right reserved for yahoo news

Get the latest news delivered to your inbox

Follow us on social media networks

PREV Police kill suspects held over rape and murder of Indian vet after they 'attacked officers and tried to escape'
NEXT Reuters World News Summary