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US imposes 25 Percent tariffs about $1.1 billion worth of French Merchandise

The Trump government imposed 25 percent tariffs on $1.3 billion ($1.1 billion) worth of French products on Friday but will freeze the selection of the tax on account of this coronavirus crisis.

The tariffs have been issued France’s taxation on big tech firms the US says targets American businesses.

The French legislation, called”Gafa” for Google, Amazon, Facebook, and Apple, imposes a 3 percent tax on businesses’ digital turnover (marketing and commissions) from France and concerns firms that make at least $750 million worldwide and $25 million in France.

French President Emmanuel Macron stated in January that he had an”excellent conversation” with the US president and that they might”work collectively on a fantastic arrangement to prevent any escalation of tariffs.”

French economy minister Bruno Le Maire additionally stated in January the nation would postpone collecting the tax.

Global talks of electronic taxation were then postponed by the Organisation for Economic Cooperation and Development on account of the pandemic.

The US tariffs include makeup and purses, according to an official statement obtained by AFP.

The further tariffs must be postponed until the end of the year on account of the continuing coronavirus catastrophe, the US trade representative Robert Lighthizer said in a statement.

The tariffs will therefore not go into effect until January 2021.