Global RiskNews Briefs

France’s Macron Pauses Tech Tax After U.S. Pressure

France and the US have reached a truce over the controversial issue of taxing tech giants like Google’s parent organization Alphabet Inc., avoiding a major crisis or a trade war over the issue. French President Emmanuel Macron reached out to President Trump over the phone on Sunday, seeking a way to end the tariff threat while France works out digital taxation.

Last year, France levied out a large tax to big tech companies. As part of the truce, France will agree to postpone this tax until the end of 2020, and in return, the US will postpone retaliatory tariffs for this year. French officials stated that the country seeks to reach an international agreement on digital taxation within the year.

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