French Goods Worth $1.3 Billion Fear 25 % Tariff By US

French Goods Worth $1.3 Billion Fear 25 % Tariff By US

On Monday, the US administration announced an extra 25% tariff on the several French commodities which includes handbags, cosmetics, and more. The action followed in response to the French Government’s Digital Service Tax. However, the Trump administration has upheld the move for up to 180 days. The effective delay date promotes a chance to resolve the issues between the US as well as France. Including a discussion through OECD (Organization for Economic Cooperation as well as Development).

The action is the result of the USA initiating the US Section 301 probe against 10 nations, including Britain, & India. The section probe concluded that France’s Tax policies are unbiased against the tech firms, Google, Facebook, Apple Inc., etc., which are again USA based.

$1.3 Billion Fear 25 % Tariff By US French Goods

The digital service tax is meant to increase the revenue from the big IT organizations by implementing the tax. The tax is applicable to local operations only, where these IT firms believe to be making massive profits but contributes little. The French government, led by Emmanuel Macron, implemented 3% tax in the name of the same.

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