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Report: Trump Tentatively Agrees To Deal Allowing Macron To Tax Big Tech

U.S. and French negotiators reached a deal allowing France to tax American big tech companies, Reuters reported Monday.

French President Emmanuel Macron pushed a digital tax in July, which prompted U.S. President Donald Trump to threaten a separate tax on French wine imports. France’s 3% tax is discriminatory against Google, Amazon and other companies, U.S. Trade Representative Robert Lighthizer said in a press statement at the time.

French Finance Minister Bruno Le Maire, U.S. Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow etched out a deal compelling France to repay companies the difference between the tax and a planned mechanism drawn up by the Organisation for Economic Co-operation and Development (OECD).

“Trump’s adviser is OK with the proposal,” a source familiar with the negotiations told reporters, referring to the deal that depends on the OECD’s mechanism. “That would be the mechanism at this stage. That’s the joint proposal.”

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