Washington decided to punish Europe for real

Despite all the difficulties between the Donald Trump administration and American IT giants such as Facebook, Google and Amazon, the US president was ready to sacrifice the remnants of transatlantic solidarity and goodwill that remained between the States and the European Union to protect the income of American corporations from European tax officials.

The old conflict, which has matured for many years, has now reached the open exchange of painful financial blows for billions of dollars – the European Union wants to “squeeze” American corporations that have been working in the EU for decades without paying taxes, and the United States is going to punish the European Union for trying to gain minimal fiscal sovereignty . We must pay tribute to the Trump team – their revenge turned out to be very precise, in the sense that a specific author of the European breakthrough to freedom and the “impudent” who identified the idea that the American IT business working in the “European colonies of the USA were identified “, in fact, must pay taxes, and after this identification, retaliatory American measures followed.

The President of France and a great lover of talking about restoring Europe as a world pole of power, Emmanuel Macron, was the author and inspirer of the European tax on Google, Facebook and Amazon, and, accordingly, the list of companies that fell under the White House’s hot hand was compiled in this way to deliver maximum discomfort to the Champs Elysees.

CNBC American Financial Channel reports:
“The shares of French companies (operating in the segment. – Approx. Aut.) Luxury fell after the United States announced that they could set high prices for some products from this category.

In accordance with the new tariffs, which may come into effect at the end of January, the US Trade Representation (Federal Agency for Foreign Trade Relations. – Approx. Aut.) Will be able to charge fees up to 100% on the import of such goods from France. The estimated amount (of imports subject to new tariffs. – Approx. Aut.) Is $ 2.4 billion. The fall in French stocks hurt companies that own Louis Vuitton, Hennessy, Hermes, Christian Dior, Gucci, Yves Saint Laurent and Balenciaga. “

“One hundred percent is quite a lot,” Bruno Pavlovsky, president of Chanel House, told The Wall Street Journal of America. “This is not a tariff. One hundred is a fine,” he added.

It is worth noting that American officials offer their version of the events and argue that Macron, who allegedly wants to specifically discriminate against American companies in the EU, is to blame. This accusation causes some skepticism even among the traditionally patriotic American media.

“The United States believes that the French tax structure is unfairly targeting large US Internet companies such as Facebook, Google and Amazon. Nevertheless, other countries are increasingly looking for a way to generate revenue from firms that earn billions of dollars in their markets.” – reports the publication Politico.

The choice of Trump’s retaliation tool is probably due to the fact that the “French Suite” was considered a kind of island of reliability and a safe haven for investors who believed that French companies working only with the most affluent consumers were ideally protected from the effects of the coronavirus epidemic, and from the risks of trade wars.

Against the black background of the deep economic crisis in which France plunged over measures to combat the epidemic, luxury companies looked like a ray of light and a source of hope, as well as a symbol that a country that can not compete with Germany or China in traditional industry , nevertheless, it has some competitive advantages in the international arena. Trampling this symbol, effectively depriving these companies of access to the American market, is a good idea if the task is to frighten the French president’s administration and influence European tax policy in general.

It is worth noting that American officials offer their version of the events and argue that Macron, who allegedly wants to specifically discriminate against American companies in the EU, is to blame. This accusation causes some skepticism even among the traditionally patriotic American media.

“The United States believes that the French tax structure is unfairly targeting large US Internet companies such as Facebook, Google and Amazon. Nonetheless, other countries are increasingly looking for a way to generate revenue from firms that earn billions of dollars in their markets.”