World News: 10:00 GMT Tuesday 3rd December 2019. [Yahoo Business News Feed via SPi World News]
France Tuesday warned the United States of strong EU retaliation if it imposed tariffs on key French products ranging from sparkling wine to cheese to handbags, in an intensifying row over taxing digital giants that risks spiralling into a new trade war. The French parliament earlier this year infuriated the administration of President Donald Trump by passing a law taxing digital giants like Google, Apple, Facebook and Amazon for revenues earned inside the country. Talks to resolve the issue amicably have so far failed and on Monday the United States threatened to impose tariffs of up to 100 percent on $2.4 billion in French goods like sparkling wine, yoghurt and Roquefort cheese.
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