French FinMin Le Maire: US blocking global digital tax talks
|French Finance Minister Bruno Le Maire told media on Wednesday; the US is undermining international trade talks by blocking the global digital tax negotiations.
Key quotes
"It's very clear, the United States doesn't want a digital tax (deal) at the OECD. So they are making obstacles that prevent us from reaching an agreement even though the technical work is done.”
"If the U.S. blockage is confirmed by year-end, we are counting on the European Union to make a formal proposal to tax digital activities in the first quarter of 2021.”
“I have full confidence that Irish Finance Minister Paschal Donohue would live up to a promise to support such a tax, even though Dublin has shot down previous attempts at the EU level.”
Market reaction
The above news has little to no impact on the euro, as EUR/USD clings on to the overnight gains above 1.1800 amid ECB’s optimism on the forecasts and ahead of the bank’s policy decision.
At the time of writing, the spot hovers around 1.1815, up 0.14% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.