U.S. vows 100% tariffs on $2.four billion of French merchandise over digital companies tax

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FILE PHOTO: A bicycle owner passes the U.S. and French flags flying over the Eisenhower Government Workplace Constructing, which homes a majority of places of work for White Home employees, in Washington February 10, 2014. Information/Kevin Lamarque

WASHINGTON (Information) – The U.S. authorities on Monday mentioned it might slap extra duties of as much as 100% on $2.four billion in French imports of Champagne, purses, cheese and different merchandise, after concluding new French digital companies tax would hurt U.S. tech firms.

The U.S. Commerce Consultant mentioned its investigation discovered that the French tax was “inconsistent with prevailing rules of worldwide tax coverage, and is unusually burdensome for affected U.S. firms”, together with Alphabet Inc’s Google (GOOGL.O), Fb (FB.O), Apple (AAPL.O) and Amazon (AMZN.O). U.S. Commerce Consultant Robert Lighthizer mentioned the U.S. authorities was additionally exploring whether or not to open related investigations into the digital companies taxes of Austria, Italy, and Turkey.

Reporting by Andrea Shalal And David Lawder; Enhancing by Leslie Adler