The United States yesterday unveiled heavy import duties on France in retaliation for the country’s tax on American tech giants. — Reuters pic
However, it will suspend the tariffs until January 6, 2021 while discussions continue over the disagreement. But the talks have not made much headway and were suspended due to the coronavirus pandemic. Meanwhile, more countries are considering following France’s example. A USTR investigation in January ruled the tax was “unreasonable” and threatened 100 per cent duties on a potential list of US$2.4 billion in French goods.
A “cooperative approach is in the best interest of everybody,” he said, noting it would be “a signal of the capacity of the global community to work together if a deal on international corporate taxation would be struck.”
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