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Macron and Trump declare a truce on digital tax dispute

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French President Emmanuel Macron speaks during a visit at the AstraZeneca factory in Dunkirk, France January 20, 2020. Denis Charlet/Pool via REUTERS

PARIS (Reuters) – French President Emmanuel Macron said on Tuesday he had a “great discussion” with U.S. President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs.

France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide. Washington has threatened to impose taxes on French products in response.

Reporting by Michel Rose; Writing by Benoit Van Overstraeten; Editing by Angus MacSwan

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via Reuters