Tech versus Wine is the geopolitical arm-wrestle.
US President Donald J. Trump is in France for the G7 Summit and to meet French counterpart Emmanuel Macron, as you can read in
Among the many issues that will be discussed, there is one economic war that is on the outing: Trump is demanding that France drop its tax on American tech firms or face a 100% tariff on its wine.
FOX Business reported:
“The U.S. will ‘have no choice’ but to apply the tariffs if French President Emmanuel Macron does not end its 3% levy on large digital services companies. ‘I asked him not to charge American companies, and if they do, I have no choice but to charge a 100% tariff on all champagnes and all wines coming out of France’, Trump told the New York Post in an interview. ‘All [Macron] has to do is get rid of the sales tax, and he wouldn’t have that kind of pressure’.
[…] ’The president has been unequivocally clear on digital services taxes and other forms of extortion against American tech firms’, a senior White House official told FOX Business on Monday, when reached for comment. ‘The administration is committed to using the many legal authorities at our disposal to defend American workers and businesses’.”
Hellbound and Down 