President Trump and French President Emmanuel Macron agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year, a French diplomat said.
on digital tax,” Macron said Monday in a tweet. “We will work together on a good agreement to avoid tariff escalation.”
Macron’s government still hopes to find a solution that fits within discussions at the Organization for Economic Cooperation and Development’s work on the issue, the official added, asking not to be identified in line with French government rules. Among the French products targeted with duties of as much as 100% were luxury items such as wine, cheese and makeup. One American wine merchant called it the biggest threat to the industry since Prohibition a century ago.
EU trade commissioner Phil Hogan visited Washington last week for the first time in the job, partly to plead for talks rather than tariffs in disagreements such as the French digital tax. At stake, he said, was transatlantic trade in goods and services valued at more than $3 billion a day. U.S. and EU trade relations started to sour in 2018 when the Trump administration invoked national-security considerations to impose tariffs on steel and aluminum from Europe. As a U.S. military ally, the EU was infuriated and promptly retaliated with levies on iconic American brands such as Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans.A subsequent U.S.
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