French Lawmakers Progress Tax on American Big Tech Amid Huge Pushback
French lawmakers are moving ahead with plans to double a tax on big tech firms, backing away from a more aggressive push amid fears of provoking the U.S.
France's National Assembly voted in favor of hiking a digital service tax on tech companies, including Google, Apple, Meta, and Amazon, to 6 percent, up from 3 percent.
Economy Minister Roland Lescure warned that a "disproportionate" tax would lead to "disproportionate" retaliatory measures.
Lawmakers had initially pushed to hike the levy to 15 percent to hit back at U.S. President Donald Trump's tariff war, sparking strong reactions from across the Atlantic.
Industries in France that fear trade retaliation have also called for caution.
Author's summary: France doubles tax on big tech firms to 6 percent.