UPDATE: Trump administration threatens 100% tariffs on $2.4 billion in French goods
The Trump administration said late Monday it is considering imposing tariffs up to 100% on around $2.4 billion of French goods in retaliation for France's new tax on digital services. In a statement (https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/december/conclusion-ustr%E2%80%99s-investigation), the U.S. Trade Representative's office said the French law "discriminates against U.S. companies" including Alphabet's (GOOGL) Google, Apple Inc. (AAPL) , Facebook Inc. (FB) , and Amazon.com Inc. (AMZN) . "The USTR is focused on countering the growing protectionism of EU member states, which unfairly targets U.S. companies," Trade Representative Robert Lighthizer said in a statement, adding that Austria, Italy and Turkey could also be subject to retaliation for their digital services taxes. The USTR said it is seeking public comment and will hold a public hearing in early January regarding the proposed action.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 02, 2019 19:34 ET (00:34 GMT)
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