US President Donald Trump (File photo)
US President Donald Trump (File photo)

Trump vows 'substantial reciprocal action' on France over taxing US tech giants

ANI | Updated: Jul 27, 2019 03:02 IST

Washington D.C. [USA], July 27 (ANI): United States President Donald Trump on Friday vowed to take "substantial reciprocal action" against France after President Emmanuel Macron signed into law a tax targeting technology giants like Amazon and Google.
"France just put a digital tax on our great American technology companies. If anybody taxes them, it should be their home Country, the USA. We will announce a substantial reciprocal action on Macron's foolishness shortly. I've always said American wine is better than French wine!" the president wrote on Twitter.
Macron this week signed the digital services tax, which imposes a three per cent tax on the annual revenues of technology companies that make at least 750 million euros annually and provide services to users in the country, The Hill reported.
The tax would affect several companies, including U.S.-based tech giants like Apple, Google, Facebook and Amazon.
"The United States is extremely disappointed by France's decision to adopt a digital services tax at the expense of US companies and workers," White House deputy press secretary Judd Deere said in a statement.
"The Trump Administration has consistently stated that it will not sit idly by and tolerate discrimination against US-based firms," he added.
The president further stressed that his administration would deny a request by Apple to avoid stiff tariffs that he had similarly put on Chinese imports.
Trump has increasingly used tariffs to extract concessions over a range of issues, including those unrelated to trade practices. In June, he threatened to tax all Mexican imports to resolve an immigration dispute.
He tweeted on Friday morning that Apple "will not be given Tariff waiver, or relief, for Mac Pro parts that are made in China" and that the company should "Make them in the USA, no Tariffs!" (ANI)

iocl
iocl