Opinion
France should not fly solo on digital tax
The dangers of unilateral solutions are not limited to stoking trade tensions. They could leave a big part of the world’s economy bogged down in a Balkanised tax regime, says the FT's Lex team.
The Lex ColumnFrance gave the US the Statue of Liberty. But those historic bonds are starting to fray. France has angered the US by taxing its digital giants. In response, the US has proposed tariffs on $US2.4 billion ($3.5 billion) of French luxury goods such as champagne, cheese and handbags.
The stock market reaction was one of sniffy hauteur. On Tuesday, shares in the targets, large French companies such as LVMH, Kering and Hermès, barely dipped.
Financial Times
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Europe
Fetching latest articles