Despite the supposed agreement, the Trump administration has told the tech industry it is simply holding off on any retaliatory tariffs on France for up to 90 days, according to several people familiar with the matter
When French President Emanuel Macron announced at the G7 meeting in Biarritz that a compromise had been reached with the United States over his country's new tax on services provided by big tech firms, President Donald Trump — who had threatened to place a tariff on French wine in retaliation — said nothing.. Multiple sources said Macron's announcement dressed up as a done deal what is essentially a pause.In other words, a trade showdown with France may still be looming.
But at the end of the 90 days, the US would retain the freedom to retaliate, the industry officials said.One tech industry official pushed back on descriptions of the compromise as a"deal.""What has changed is that the US feels they've gotten a new level of commitment from the French in the OECD context in terms of what the objectives are, and what success could look like.
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