US President Donald Trump has agreed to hold off on tariffs with France until digital tax negotiations at the Organisation for Economic Co-operation and Development (OECD) are over, Reuters reported, citing its source.
Meanwhile, French President Emmanuel Macron took to Twitter to comment on his latest talks with Trump.
Great discussion with @realDonaldTrump on digital tax. We will work together on a good agreement to avoid tariff escalation.— Emmanuel Macron (@EmmanuelMacron) January 20, 2020
Last year, the US president threatened to impose tariffs on French goods in response to France's new tax on American tech giants, such as Google, Amazon, Facebook and Apple.
Under new legislation passed by the French government in July 2019, a 3% levy should be imposed on the total annual revenues of US tech giants, whose turnover is reported at €750 million globally, with at least €25 million coming from France.