'Europe doesn't have the real high-tech champions and the real e-commerce champions that we do,' says the Commerce secretary.
's Google. The 3% levy applies to revenue from digital services earned by firms with more than $27.86 million in French revenue and $830 million worldwide.has insisted it's not aimed specifically at U.S. tech companies, Ross said that was a lie. "It's hard to say that it wasn't designed as an anti-American thing," Ross added. "The criteria, whether designed deliberately or not, essentially include only American companies.
Ross also thinks that part of the motivation for the digital tax is France's need bring in revenue to mitigate budget deficits. Before joining the Trump administration, Ross made a fortune in the investment world, running W.L. Ross & Co., and buying stakes in distressed assets.France's new digital services tax would harm U.S. tech companies. In retaliation, it threatened to put punitive duties of up to 100% on $2.4 billion in French imports of Champagne, cheese and other products.
The U.S. trade agency said it would collect public comments through Jan. 14 on its proposed tariff list as well as the option of imposing fees or restrictions on French services, with a public hearing scheduled for Jan. 7. It did not specify an effective date for the proposed 100% duties.
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