US to Probe French Tax on Tech Giants
The Trump administration has ordered trade officials to investigate a proposed 3 percent tax on revenue generated within France by major tech companies. U.S. Trade Representative Robert Lighthizer said yesterday the tax — which is expected to be approved today and could raise around $450 million this year — “unfairly targets American companies,” since giants like Amazon, Google and Facebook would all be affected.
Why does it matter? The spat could spark a broader debate over how the internet economy should be taxed, though analysts say France is the only European country that’s come close to introducing such a measure.