Trump threatens retaliation against France over digital service tax

Enlarge / US President Donald Trump speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, on Saturday, March 2, 2019. (credit: Getty Images | Bloomberg)

US President Donald Trump is threatening to retaliate after French President Emmanuel Macron signed legislation imposing a 3% tax on digital transactions.

"France just put a digital tax on our great American technology companies," Trump tweeted. "If anybody taxes them, it should be their home Country, the USA."

The new French tax isn't specific to American companies, but it is designed to target big companies in general-and the world's big technology companies are disproportionately based in the United States. Companies will need to pay the tax if they generate more than a25 million ($28 million) in French revenue and a750 million ($840 million) worldwide.

Read 6 remaining paragraphs | Comments