Trump administration announces 25 percent tariff on $1.3B in French handbags, cosmetics, other goods
Channel: Phim Hay TV
Date: 2020-07-12

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The White Houseon Saturday announced a 25 percent tariff on $1. 3 billion worth of French merchandise, including cosmetics and handbags, after a digital service tax was levied against U. S.  tech giants. The Trump administrationreportedly saw the tax as an unfair assault on American companies like Facebook, Google and Amazon. Senate Finance ChairChuck Grassley, R-Iowa. , and ranking member Ron Wyden, D-Ore. , supported the presidents decision in a joint statement, according to Politico. Retaliatory tariffs arent ideal but the French governments refusal to back down from its unilateral imposition of unfair and punitive taxes on U. S.  companies leaves our government with no choice, the statement read. BIDEN CAMPAIGN: TRUMP ABUSED AUTHORITY BY COMMUTING ROGER STONES SENTENCEThe White House openedan investigation into the tax last year, before it was signed into law, to determine whether or not it"unfairly targets American companies. "The Office of the United States Trade Representativefound the tax to be"unreasonable or discriminatory" and said it "burdens or restricts U. S.  commerce. "It also said it expects France to collect approximately $450 million in taxes from U. S.  companies for activities during 2020, and over $500 million for activities in 2021. Trump tweeted about the tax soon after the announcement of the probe in 2019 and accused France of stepping out of line. TRUMP JABS MACRON TO FRENCH REPORTER: MAYBE WE HAVE A BETTER PRESIDENT THAN YOU DO"France just put a digital tax on our great American technology companies," he wrote in July 2019.  "If anybody taxes them, it should be their home Country, the USA.  We will announce a substantial reciprocal action on Macrons foolishness shortly.  Ive always said American wine is better than French wine!"CLICK HERE TO GET THE FOX NEWS APPTrade officials will continue to monitor the situation with their counterparts in France and could suggest modifications