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UPDATE 1-Trump tells France’s Macron U.S. involved with proposed digital providers tax

(Provides background)

WASHINGTON, July 19 (Reuters) – U.S. President Donald Trump spoke with French President Emmanuel Macron on Friday and expressed considerations in regards to the nation’s proposed digital providers tax, the White Home stated.

The 2 leaders additionally mentioned ongoing efforts to make sure Iran doesn’t receive a nuclear weapon, White Home spokesman Judd Deere stated in an announcement.

Trump ordered an investigation on Wednesday into France’s deliberate tax on expertise firms, a transfer that would lead america to impose new tariffs or different commerce restrictions. U.S. Commerce Consultant Robert Lighthizer stated in an announcement the administration was involved the tax would unfairly goal American firms.

The so-called Part 301 investigation provides Lighthizer as much as a 12 months to analyze whether or not the tax would harm U.S. expertise firms and whether or not it quantities to an unfair commerce apply. Comparable probes up to now have handled Chinese language commerce practices and European Union subsidies on massive business plane.

French Finance Minister Bruno Le Maire stated in March {that a} 3% tax on the French income of huge web firms might yield 500 million euros ($563 million) a 12 months.

USTR stated in an announcement the “providers coated are ones the place U.S. companies are world leaders. The construction of the proposed new tax in addition to statements by officers counsel that France is unfairly focusing on the tax at sure U.S.-based expertise firms.” (Reporting by Steve Holland; Writing by Doina Chiacu; Modifying by David Alexander and Jonathan Oatis)

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