BREAKING: US Proposes 100% Tariffs on French Goods

The Trump administration late today proposed the imposition of 100 per cent tariffs on up to $2.4bn of French goods, including champagne, after concluding that the country’s digital services tax unfairly discriminated against American technology companies.

This is a developing story. Return to this post for updates.

UPDATE 1

Via The Financial Times:

In addition, the US trade representative’s office said it was looking at broadening a range of punitive tariffs on EU products, including goods from the UK, France, Spain and Germany, because of subsidies to Airbus, the aircraft maker, that have been judged as illegal by the World Trade Organization.

UPDATE 2

The new tariffs will not be imposed until after a public comment period that includes a hearing in Washington on January 7, where producers and consumers of the affected goods can argue against them.

UPDATE 3

Via FT:

The US technology sector welcomed the Trump administration’s move.

Great, US consumers must suffer because social media giants have trouble selling their products and services in France and the EU.

Why do we have to suffer to help Google and Facebook in France?

Trump just loves to bully.

-RW