US President Donald Trump, in a tweet, criticized France’s new tax policies against US-based technology giants such as Google, Amazon and Facebook, hinting that they would take steps against it. Trump also targeted French President Emmanuel Macron in a Tweet, saying they would soon implement these new applications.
At this point, a new law passed by the French parliament at the beginning of July will impose tax deductions on transactions in France for many internet companies, mostly based in the United States, with annual revenues of more than $750,000. Let’s remind you.
Let’s add that France has taken this decision independently of the European Union and will affect predominantly US-based firms. Echoing his criticism of this new law, Trump tweeted that “only the U.S. can tax U.S. companies.” “I’ve always said that American wine is better than French wine,” he said in an innavolious approach.
French President Emmanuel Macron was also the target of Trump’s messages. Trump did not hesitate to use the phrase ” We will respond to Macron’s indiscretion with a significant move soon.”
In the meantime, France has previously offered to implement similar tax practices within the EU. However, facing criticism from some EU countries, the country chose to take unilateral steps on the issue. According to French officials, the new tax implementation is aimed at turning internet and technology companies that open branches in countries outside their centres into taxpayers.