The French parliament on Thursday adopted a tax on revenue of internet giants like Google, Amazon and Facebook despite the Trump administration announcing an investigation into whether it is discriminatory, the Associated Press reported.<\/p>\n
The legislation will impose a 3 percent tax on the annual revenues of technology companies that make at least 750 euros annually and provide services to users in the country, which includes several American giants.<\/p>\n
The French Senate estimated that the tax could bring in 400 million euros this year and 650 million in 2020, according to the AP.<\/p>\n
U.S. Trade Representative Robert Lighthizer on Wednesday announced an investigation to “determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce.”<\/p>\n
The investigation could serve as a precursor to the implementation of tariffs or other trade measures against France.<\/p>\n
The USTR’s move received bipartisan praise. Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) said the French policy “unfairly targets American companies in a way that will cost U.S. jobs and harm American workers.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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