• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
U.S. to impose tariffs on French products amid digital services tax disputeU.S. to impose tariffs on French products amid digital services tax disputeU.S. to impose tariffs on French products amid digital services tax disputeU.S. to impose tariffs on French products amid digital services tax dispute
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • BREAKING: Austria detaches Hungarian trains of Western railway network

  • Official price list: e-vignette prices to skyrocket in Hungary in 2024

Support us
Daily News Hungary Daily News Hungary · 11/07/2020
· World

U.S. to impose tariffs on French products amid digital services tax dispute

macron trump

Photo: www.facebook.com/EmmanuelMacron

The United States plans to impose 25-percent additional tariffs on about 1.3 billion U.S. dollars worth of French products in response to the country’s digital services tax that impacts major U.S. technology companies, the Office of the United States Trade Representative (USTR) announced Friday.

“In determining the level of trade covered by the additional duties, the U.S. Trade Representative considered the value of digital transactions covered by France’s DST (digital services tax) and the amount of taxes assessed by France on U.S. companies,” the USTR’s Office said in a notice.

“Additional duties of 25 percent on the products of France covered by the trade action should result in the collection of tariffs on goods of France at comparable, though somewhat lower amounts,” the notice said.

Eiffel Tower Paris
Read alsoMacron accelerates France’s exit from lockdown

The USTR has also determined to suspend the additional tariffs on French products for up to 180 days, a period ending on Jan. 6, 2021, to “allow additional time for bilateral and multilateral discussions that could lead to a satisfactory resolution of this matter.”

The United States had launched and completed a Section 301 probe into France’s digital services tax regime but agreed to delay the imposition of tariffs on the country, as the two sides were negotiating a multilateral deal on international taxation at the Organization for Economic Cooperation and Development (OECD).

But in a letter to four European finance ministers in June, U.S. Treasury Secretary Steven Mnuchin said the United States will not continue with the negotiations on digital taxation at the OECD as discussions had reached an “impasse.”

In response, French Economy and Finance Minister Bruno Le Maire said that “this letter is a provocation towards all the partners at the OECD when we were centimeters away from an agreement.” France will apply taxes on digital giants this year “whatever happens,” he said.

The United States has also launched Section 301 investigations into digital services taxes considered by 10 U.S. trading partners, including the European Union (EU), Brazil and India.

The so-called Section 301, under an outdated U.S. trade law adopted in 1974, allows the U.S. president to unilaterally impose tariffs or other trade restrictions on foreign countries.

The global trading community has become increasingly concerned that the U.S. government’s frequent use of Section 301 would go against the World Trade Organization rules, undermine the multilateral trading system and disrupt the global supply chain.

Source: Xinhua

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
economy France tax/VAT trade United States
Share

Hot news

  • What happened today in Hungary? – 30 September, 2023

  • Government halves energy prices in this sector in Hungary

  • Here is how former PM Gyurcsány’s party wants to take back the Hungarian state

  • Everybody adores this new Budapest hotel

  • Budapest Palace of Arts announces international star orchestras, world-class soloists in 2024 schedule

  • Debt of Hungary’s hospitals record high

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
<strong> What happened today in Hungary? – 30 September, 2023 </strong>

What happened today in Hungary? – 30 September, 2023

Read More
Government halves energy prices in this sector in Hungary

Government halves energy prices in this sector in Hungary

Read More
Here is how former PM Gyurcsány’s party wants to take back the Hungarian state

Here is how former PM Gyurcsány’s party wants to take back the Hungarian state

Read More
Everybody adores this new Budapest hotel

Everybody adores this new Budapest hotel

Read More
Budapest Palace of Arts announces international star orchestras, world-class soloists in 2024 schedule

Budapest Palace of Arts announces international star orchestras, world-class soloists in 2024 schedule

Read More
Debt of Hungary’s hospitals record high

Debt of Hungary’s hospitals record high

Read More
Government decree deathblow to Hungarian environmental safeguards?

Government decree deathblow to Hungarian environmental safeguards?

Read More
Hungarian dog handlers train in Lithuania

Hungarian dog handlers train in Lithuania

Read More
Hungarian National Federation of Workers’ Councils happy with court decision

Hungarian National Federation of Workers’ Councils happy with court decision

Read More
Government decision turns Hungarian property sector upside down

Government decision turns Hungarian property sector upside down

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?