Pre-pandemic, you might remember, the U.S. government threatened to impose 100% tariffs on French goods, including champagne and cheese, in retaliation for France’s planned 3% tax on revenues generated by large digital companies in its territory. France agreed to postpone these taxes until the end of 2020 to avoid a trade war, while hoping that the Organization for Economic Co-operation and Development (OECD) would come up with a multilateral solution by then.
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