France's Le Maire: EU will retaliate if US imposes sanctions on France over digital tax

Eren Sengezer FXStreet

The European Union will retaliate if the US decides to impose sanctions on France over the French digital tax, French Finance Minister Bruno Le Maire said on Friday.

"I have made proposals to resolve digital tax dispute to US Treasury Secretary Mnuchin and I will make more later this evening," the minister explained. "It is up to our American friends to make a move in the coming days."

Earlier in the day, the Organisation for Economic Co-Operation and Development (OECD) Chief Gurria said that the US continues to be favourable towards reaching an international agreement on digital tax reform.

These comments don't seem to be having a significant impact on the market sentiment. As of writing Germany's DAX was up 0.7% on the day while the Euro Stoxx 50 was adding 0.87%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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