France will continue with its technology tax amidst tariff threat from US

french flag (flickr)

french flag (flickr)

France’s finance minister says that it will continue to carry out a plan to tax technology firms, despite a threat of tariffs on French goods from US President Donald Trump, according to Reuters.

The country’s senate passed the controversial bill earlier this month, and it was signed into law by President Emmanuel Macron this week. The bill places a 3 percent tax on technology firms that earn more than €750 million ($834 million) in global revenue and €25 million in France, and would target the revenue that those companies earn in the country. According to The Washington Post, that would affect nearly 30 companies around the world, not just firms from the United States.

In response, Trump tweeted yesterday that the White House will…

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