French lawmakers on Thursday approved a digital services tax on internet giants like Google, Amazon, Facebook and Apple, prompting threats of a new trade war by the Trump administration. Supporters of the 3% tax argue U.S. companies largely avoid paying taxes by setting up headquarters in EU countries with extremely low tax rates on corporate profits. The Trump administration says it has launched an investigation and is considering punitive tariffs in retaliation.
Trump Threatens New Trade War as France Approves 3% Tax on Tech Giants
HeadlineJul 12, 2019