Treasury Secretary Not Afraid Of U.S. Tariffs: Will Respond With European Partners

Chinanews.com, January 6. According to foreign media reports, French Finance Minister Bruno Lemel said that if the US government really threatens to impose tariffs on French goods, the French government will not sit idly by. "We want to avoid a trade war, but we are prepared to respond with our European partners if we are subject to sanctions that we consider inappropriate, unfriendly and illegal," he told the French Sunday newspaper. In France, lawmakers supported a new tax on Internet giants, which mainly levied digital services taxes on US companies such as Google, Apple, Facebook and Amazon. The purpose of the new plan is to allow these tech giants to pay taxes on income generated from services provided to French consumers, rather than giving them the opportunity to declare these incomes in countries with relatively low tax rates. The Trump administration has repeatedly condemned France's move, saying it "discriminated" against American companies and vowed to impose tariffs in response. The United States wants to impose tariffs of up to 100% on some French imports, such as wine, cheese and cosmetics. According to a preliminary list released by the U.S. Trade Representative in December 2019, products worth about $ 2.4 billion could be hit. The U.S. Trade Representative's Office plans to hold a public hearing on the measure on January 7 and receive public comment by January 14. (Source: China News Network)