https://tw.news.yahoo.com/美法貿易戰開打-法國加徵數位稅-川普將搬出-神器-予以反擊-083656785.html
美法貿易戰開打？法國加徵數位稅 川普將搬出「神器」予以反擊
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洪培英
2019年7月12日 下午4:36
法國對科技巨擘開徵數位稅，臉書、谷歌等美企科技龍頭首當其衝，繼美中、美印貿易戰後，川普是否也會接著對法國宣戰？（圖片來源／維基百科）
法國國會7月11日批准向跨國科技巨擘徵收3%數位稅，美國企業恐最受打擊，尤其是網路平台四天王谷歌、臉書、蘋果及亞馬遜。
作為反制，美國總統川普下令對法國啟動「301調查」，研究數位稅是否不公平針對美企並減損美國商業利益，若確有此事，美國將對法國產品加徵關稅或祭出其他限制措施。
法國一方面譴責美國欲以貿易威脅解決爭端，一方面敦促美方與歐盟合作，一同建立國際層級的數位稅課徵規範，落實稅收正義。
數位稅衝突，不僅可能導致「美法貿易戰」開打，對美國與歐盟目前遲滯不前的貿易談判，更是雪上加霜。
3%數位稅，谷歌、蘋果、臉書和亞馬遜首當其衝
7月11日法國參議院通過一項稅法，為法國消費者提供數位服務的國際科技企業，若其全球收益達7.5億歐元（8.45億美元），或在法國收益達2500萬歐元（2800萬美元），將被課徵佔其年營收3%的數位稅（Taxe sur le Numérique）。
法國這項數位稅又稱「GAFA稅」，是由最受影響的四大網路平台谷歌（Google）、蘋果（Apple）、臉書（Facebook）及亞馬遜（Amazon）的首字組成。
這項稅法溯及既往至2019年1月，主要針對30多家跨國企業，其中多為美企，但也包括中國、德國、英國、西班牙甚至法國自家企業。
法國向來力倡要對科技公司來自數位廣告及使用者數據的獲利課稅，法國財政部長勒麥爾（Bruno Le Maire）預估，數位稅每年會為法國增加5億歐元（5.6億美元）稅收。
法國總統馬克宏（Emmanuel Macron）有兩週時間簽署或修正數位稅法案，不過一旦國會通過，法國總統一般不會再做更動，過去40年中這種情況僅發生過3次。
川普祭出神器「301調查」
法國出招，美國自然不甘示弱。在川普指示下，美方貿易代表萊特海澤（Robert Lighthizer）7月10日宣布，將對法國啟動「301調查」，研究數位稅帶來的影響，並評估是否對美國貿易產生歧視性或不合理的限制。
萊特海澤將有一年時間進行調查，然後提出建議採取措施，例如對法國產品加徵關稅，或以其他方式加以限制法國進口。
根據勒麥爾，這是美國在歷史上首次對法國展開301調查。
所謂「301調查」是來自美國《1974年貿易法（Trade Act of 1974）》的301條款，指若某國貿易法令損及美國商業活動或美企，總統有權對該國加徵關稅，或採取其他限制性措施。
《貿易法》及301調查，正是川普在「美中貿易戰」中對中國產品重課關稅的法源，因此對法國展開這項調查，引人揣測川普是否也要向法國宣戰。
法欲拉美上OECD談判桌，共商國際數位稅
儘管美國警告意味濃厚，法國仍表示課徵數位稅符合國際規範，不會接受任何國家利用貿易手段多加攔阻。
在參議院演講時，勒麥爾譴責美國試圖以「威嚇」化解盟友之間的分歧，「法國是一個主權國家，我們能夠，也將繼續制定我們自己的稅務政策。」
另一方面，法國一直呼籲美國在經濟合作暨發展組織（OECD）上與歐盟合作，建立一個公平的「數位稅協議」。
勒麥爾表示法國課徵數位稅，就是為了刺激美國加緊腳步，與歐盟就此議題展開國際合作。因此，勒麥爾強調，若各國能在OECD達成協議，法國願意撤銷國內數位稅法，而且他樂觀地認為今年就能有成果。
法國政府也將數位稅視為實踐「黃背心運動」訴求之一的稅收正義，指出他們不過是想建立一個更公平、更有效率的財政及稅收制度。
美國、歐盟貿易談判談不攏，法國火上加油
然而，美國及歐盟的貿易談判進展並不順利，美法在數位稅上的爭端，還有美法貿易戰爆發的可能性，恐怕會讓美歐關係更加緊繃。
截至目前為止，雙方貿易協商還有許多難以消弭的癥結點。
除了對歐盟出口的鋼鐵及鋁加稅，川普也威脅要對歐盟生產的汽車及零組件課徵25%關稅，讓歐盟深感不滿。而歐盟拒絕將農產品納入貿易協議，其中又以法國最堅決反對讓步，也讓美國難以接受。
其他爭議品項還包括食品、牽引機、民航機等等，美國波音（Boeing）及歐洲空中巴士（Airbus）的競爭也因此成為焦點。
數位稅徵不徵？歐盟內部現分歧
身為第一個開徵數位稅的歐盟國家，法國態度堅定、振振有詞，然而歐盟內部對數位稅的態度卻不盡相同。
根據歐盟執委會，在歐盟進行投資的跨國數位公司，其平均稅率比其他類型的企業低14%左右，今（2019）年歐盟也曾討論在28成員國內課徵數位稅的可能性，最後由於各國缺乏共識而失敗。
法國、德國、英國等工業大國支持數位稅，用低公司稅吸引外資，以金融服務業為導向發展的小國則堅決反對，像是盧森堡及愛爾蘭。
而英國同樣在7月11日公布一項草案，擬於2020年4月開始對從英國消費者獲利的搜尋引擎、社群媒體平台及網路商城課徵2%數位稅，預估一年稅收可增加4億英鎊（5億美元）。
更多信傳媒文章
https://www.telesurenglish.net/news/US-Trade-War-With-France-20190711-0012.html
News > France
US Trade War With France?
The U.S. may even impose retaliatory tariffs on France, of the kind meted out against China during the recent trade war.
On Thursday, The U.S. denounced France for proposing measures to stop tax dodging by big tech firms, many of whom are U.S.-based. The move follows the Trump administration’s keenness for applying aggressive economic pressure, even against their own allies.
The French parliament will vote friday on a bill that hopes to crack down on big tech companies that pay little or no tax to the countries they operate in. Firms such as Google and Amazon are notorious for paying very little, arguing that they should only owe the country where their headquarters are based.
The law would only charge 3% on revenue, but would raise over $400million for the French public purse.
However, the U.S. is angered that American companies could end up paying more. “The digital services tax that France and other European countries are pursuing is clearly protectionist and unfairly targets American companies in a way that will cost US jobs and harm American workers," says the Republican Senate Finance Committee
The U.S. may even impose retaliatory tariffs on France, of the kind meted out against China during the recent trade war.
The aggressive tone from the U.S. is in keeping with the Trump administration’s fondness for weaponizing sanctions and economic pressure. Trump has significantly tightened sanctions on Venezuela, Cuba and Iran, and has even targeted allies, such as when Trump told European countries that they will no longer be allowed an exemption from boycotting Iranian oil, threatening them with financial punishments if they continued to purchase.
https://www.ispionline.it/it/pubblicazione/trade-wars-french-perspective-20683
Commentary
Trade Wars: A French Perspective
John Seaman
| 31 maggio 2018
The Section 232 tariffs on steel and aluminum announced by the United States in March would, if applied, have little direct impact on the French economy, but rather point toward a broader trend of protectionism and economic nationalism and a widening gap in transatlantic relations that is likely to have far-reaching implications for France. More than the tariffs themselves, it is the radical shift in America’s international role – from a core driver of a liberal, multilateral order to a unilateralist disruptor – that is the most problematic. Washington’s incessant beating on the war drums of trade across the globe and the broader unilateralist stance taken by the Trump administration on questions such as climate change or Iran (JCPOA) have severely undercut efforts to confront global challenges in a constructive manner.
The direct and indirect impacts of a trade war
While steel and aluminum are indeed symbolic sectors, French exports of these products to the US totaled only USD 711 million in 2017, accounting for just 1.6% and 1.3% of all US steel and aluminum imports, respectively. Should Washington decide to remove exemptions for the EU, France could expect a direct, initial loss of roughly USD 200 million, according to calculations compiled by CEPII. While this remains rather insignificant in overall terms, the effects of trade displacement would perhaps be more painful, as global supplies of steel and aluminum (already in a glut) seek out other markets (particularly in Europe). Yet the role of these sectors in the French economy has been in steady decline for decades. The impact would be larger for others in Europe – for instance Germany – and France’s position so far has been to support a strong European stance on this issue.
Since US president Donald Trump’s decision on 8 May to withdraw from the JCPOA on Iran, new questions have surfaced over the potential for a broader economic fallout between Europe and the United States. The risks of a transatlantic trade war over Iran are rather minimal, however, and French president Emmanuel Macron has explained that France has no intention of starting a trade war with Washington over the JCPOA. Indeed, the ultimate goal is a successful resolution of the Iranian nuclear question, and perhaps some form of broader agreement relating to Iran’s ballistic missile program and its support for terrorism. These will be unlikely without a return of the US and exchanging sanctions or sparking a trade war with Washington would not be likely to achieve France’s goals.
A broken partnership?
The rise in economic tensions, including the refusal of the US so far to grant a permanent exemption to the EU from Section 232 tariffs on steel and aluminum, has shown the clear limits of president Macron’s efforts to build a close personal relationship with Donald Trump. (President Trump was made guest of honor at France’s Bastille Day parade last July, and treated the French president with the first official state visit of the Trump presidency in April of this year.) Indeed, the argument underpinning the Section 232 tariff measures relates to US national security, and yet France and many other European NATO allies are made to grovel repeatedly before Washington. Moreover, the narrow focus of the Trump administration on tariffs and trade imbalances is a concern. The French Trade Minister, Jean-Baptiste Lemoyne, has explained that France rejects the notion of limited negotiations on tariffs and would push to see broader-based negotiations with Washington on trade liberalization. A key goal for France will be to ensure that the Trump presidency doesn’t completely undo the rules-based system of international trade.
Macron’s bet on globalization must pay off
The political stakes for France, and for President Macron in particular, are high. Macron’s election was hailed as a stop-gap to the wave of populist, nationalist advances in Europe that began even before Brexit, driven in large part by what is seen as the excesses of liberal capitalism and globalization gone wild, which culminated in the global financial crisis. Yet Macron’s victory over populism is only tentative, as the most recent elections in Italy clearly suggest. Since his election, Macron has embraced a European future for France and a view of economic liberalization that has so far translated into a series of contested economic reforms at home. His bet is that by making the French economy more flexible and competitive on the global stage that France can position itself as a leader in the industries of the future, and be in a better position to define the rules for the next wave of globalization – one in which rapid technological advances are likely to have profound social, economic and political implications. Macron sorely needs this bet to pay off. It should not be forgotten that in the first round of the 2017 presidential election, 45% of French voters opted for candidates either the extreme right or extreme left, and that skepticism remains high more than a year after Macron’s election. If the French president is unable to provide tangible results for his vision of a globalized France, his victory over populism could very likely be short lived. This task is made all the more difficult when Washington holds narrow view of American interests.
Contenuti correlati:
Trump's Looming Trade War
https://www.theregister.co.uk/2019/07/12/france_us_trade_war/
Business
Policy
We have the best trade wars: US investigating French tech tax plan over fears it unfairly targets American biz
How dare they. There are shareholders to consider
By Iain Thomson in San Francisco 12 Jul 2019 at 11:20
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The US has declared that it is investigating French plans to impose a 3 per cent tax on tech firms' top line, not the bottom.
"The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," said US trade representative Robert Lighthizer.
"The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce," said Bruno Le Maire, the French Minister for the Economy and Finance.
That commerce is data, and lots of it. The EU is getting increasingly annoyed at tax avoidance and France has made the first move. The proposed GAFA [PDF] (Google, Apple, Facebook and Amazon) law would be a revenue, not profit, tax.
The new law would levy 3 per cent of "targeted online advertising, sales of user data for advertising purposes and online intermediation platforms", and France reckons it can earn €500m a year from the policy. Small businesses are safe – you need to earn €750m, or €25m in France, to be affected.
Smashing the shell game
Over the last decade or so corporations around the world have become very good at avoiding tax, with the tech sector proving particularly adept.
The (perfectly legal) gig is this. You set up headquarters in a low-tax country – looking at you Ireland and the Netherlands – then licence your product out to other EU countries at very high cost so that you barely make a profit.
It's a technique pioneered in Hollywood, where films are taxed on profits. David Prowse, the body of Darth Vader for the original trilogy, opted for a profit payment rather than an upfront deal and so earned very little for Return of the Jedi, which has still to make a profit despite a $32m budget and earning mega-millions.
Tech firms got the message and we're left with the absurd situation that the company effectively owned by the world's richest man hasn't paid taxes in its home country for a couple of years. And it's not alone. Yes, we are referring to Amazon for the absence of doubt.
The French proposal is fairly simple; if our citizens are spending their money with you then we get to take a cut to pay the costs to look after them. Seems fair enough really, but firms used to paying the bare minimum in taxes don't see it that way. After all, as U2's The Edge (aka David Evans) put it in rock 'n' roll terms: "Who doesn't want to be tax-efficient?"
So what's next?
The French law has already brought about some changes, notably a €500m ($570m, £440m) payout from Apple in back taxes.
France has said it will abolish the law if an international solution can be worked out. That seems unlikely. The EU has been working on this issue for some time and still hasn't got the member states to agree, and the prospect of a global agreement seems slim.
A lot depends on how the US reacts. If it goes in hard with sanctions that really bite then other countries might be dissuaded from similar actions. And one thing the Trump administration has proven adept at is starting trade wars.
Certainly tariffs from the US would hurt some sections of French industry. The principle export to the US is aircraft and US manufacturers would be more than happy to get a slice of that pie if Gallic kit becomes more expensive to buy – although existing aircraft would still have to be maintained.
France also exports a certain amount of heavy equipment, particularly in the power sector, and that too could be hurt. But France's other great export market, beverages, would suffer less. Let's face it, if you're buying proper Champagne, Cointreau or Courvoisier, price isn't so much of an issue.
There's also the backlash from other countries if the US is seen to be throwing its weight around over what is a slightly dodgy argument. Governments are usually cash-strapped and the revenues such a tax could pull in would be tempting for many.
The UK intends to introduce a new Digital Services Tax under the Finance Bill legislation, a draft of which was published yesterday. The new tax would apply a 2 per cent charge on revenues reported by search giants, social media outfits and online marketplaces that turn over £500m globally and generate revenue of £25m by providing services to customers in Britain.
Giles Derrington, associate director of policy at TechUK, an industry body comprised mostly of SMEs members but which also includes Google UK and Amazon Web Services, was clearly upset by the proposals.
"As a revenue tax targeted on a narrowly defined set of companies, the Digital Services Tax is not one of those smart measures. It risks making investing in the UK less attractive, increasing costs for consumers and will likely hinder progress towards a long term global solution."
He pointed to the ire in the US caused by France's proposals. "The US government has said that this proposal risks creating new non-tariff barriers to trade, and there is a real risk that the government is putting the UK at risk of retaliation from the US government that would hurt British businesses and consumers."
So there it is. Quelle surprise?
There is a real sense that many countries are getting increasingly sick of the kind of Silicon Valley accounting tricks that the tech titans are using to get out of paying their fair share. Their populaces certainly are – if the average person on the street tried these kinds of shenanigans they'd end up in so much trouble with tax authorities they'd be cavity searched for their last sou, pound or dollar. ®
Tips and corrections
https://time.com/5624371/trump-admi...r-to-france-over-3-tax-on-big-tech-companies/
Trump Administration Threatens to Extend Trade War to France Over 3% Tax on Big Tech Companies
Julia Webster
5:33 PM ET
The Trump Administration is threatening the extend its trade war to France as the country prepares to hit big tech companies––many of them American––with a new tax.
A 3% levy on tech giants was approved by the French Senate on Thursday, despite it upsetting the U.S., which has announced it has launched an inquiry into the law.
“The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies,” said U.S. Trade Representative Robert Lighthizer in a statement.
“The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce.”
Any digital company with revenue over €750 million (about $850 million)––of which €25 million is generated in France––will be subjected to the 3% levy, which will be based on total revenue generated in the country, rather than profits.
France is the first country in Europe to introduce this kind of tax. It would hit about 30 companies, including Google, Apple, Facebook and Amazon. It will also apply to companies from China, Germany, Spain and the U.K. and one French company.
Global tech companies have been accused of avoiding tax by shifting profits to countries with very low taxes, where they have headquarters, rather than where they make their sales.
“We must act against the perverse effects of a regulatory and fiscal framework that allow digital giants to grow without any limits and without any control," French Finance Minister Bruno Le Maire said when he introduced the bill earlier this year.
The tax faced criticism from tech executives, who said it would damage French President Emmanuel Macron’s attempt to transform the country into a “start-up nation.”
“It’s quite possible that there will be heightened trade tensions between the U.S. and France as the Americans view the digital tax as unfairly targeting U.S. tech companies which falls afoul of 'America First,' the doctrine that guides U.S. economic policy," Linda Yueh, an adjunct professor of economics at the London Business School, said in an email.
But, she added, other countries are already looking at new taxes on big tech companies. "France is unlikely to be alone," Yueh said.
The tax will be retrospectively applied from early 2019, raising around €400m ($450m) for the French government this year.
美法貿易戰開打？法國加徵數位稅 川普將搬出「神器」予以反擊
信傳媒
2.4k 人追蹤
洪培英
2019年7月12日 下午4:36
法國對科技巨擘開徵數位稅，臉書、谷歌等美企科技龍頭首當其衝，繼美中、美印貿易戰後，川普是否也會接著對法國宣戰？（圖片來源／維基百科）
法國國會7月11日批准向跨國科技巨擘徵收3%數位稅，美國企業恐最受打擊，尤其是網路平台四天王谷歌、臉書、蘋果及亞馬遜。
作為反制，美國總統川普下令對法國啟動「301調查」，研究數位稅是否不公平針對美企並減損美國商業利益，若確有此事，美國將對法國產品加徵關稅或祭出其他限制措施。
法國一方面譴責美國欲以貿易威脅解決爭端，一方面敦促美方與歐盟合作，一同建立國際層級的數位稅課徵規範，落實稅收正義。
數位稅衝突，不僅可能導致「美法貿易戰」開打，對美國與歐盟目前遲滯不前的貿易談判，更是雪上加霜。
3%數位稅，谷歌、蘋果、臉書和亞馬遜首當其衝
7月11日法國參議院通過一項稅法，為法國消費者提供數位服務的國際科技企業，若其全球收益達7.5億歐元（8.45億美元），或在法國收益達2500萬歐元（2800萬美元），將被課徵佔其年營收3%的數位稅（Taxe sur le Numérique）。
法國這項數位稅又稱「GAFA稅」，是由最受影響的四大網路平台谷歌（Google）、蘋果（Apple）、臉書（Facebook）及亞馬遜（Amazon）的首字組成。
這項稅法溯及既往至2019年1月，主要針對30多家跨國企業，其中多為美企，但也包括中國、德國、英國、西班牙甚至法國自家企業。
法國向來力倡要對科技公司來自數位廣告及使用者數據的獲利課稅，法國財政部長勒麥爾（Bruno Le Maire）預估，數位稅每年會為法國增加5億歐元（5.6億美元）稅收。
法國總統馬克宏（Emmanuel Macron）有兩週時間簽署或修正數位稅法案，不過一旦國會通過，法國總統一般不會再做更動，過去40年中這種情況僅發生過3次。
川普祭出神器「301調查」
法國出招，美國自然不甘示弱。在川普指示下，美方貿易代表萊特海澤（Robert Lighthizer）7月10日宣布，將對法國啟動「301調查」，研究數位稅帶來的影響，並評估是否對美國貿易產生歧視性或不合理的限制。
萊特海澤將有一年時間進行調查，然後提出建議採取措施，例如對法國產品加徵關稅，或以其他方式加以限制法國進口。
根據勒麥爾，這是美國在歷史上首次對法國展開301調查。
所謂「301調查」是來自美國《1974年貿易法（Trade Act of 1974）》的301條款，指若某國貿易法令損及美國商業活動或美企，總統有權對該國加徵關稅，或採取其他限制性措施。
《貿易法》及301調查，正是川普在「美中貿易戰」中對中國產品重課關稅的法源，因此對法國展開這項調查，引人揣測川普是否也要向法國宣戰。
法欲拉美上OECD談判桌，共商國際數位稅
儘管美國警告意味濃厚，法國仍表示課徵數位稅符合國際規範，不會接受任何國家利用貿易手段多加攔阻。
在參議院演講時，勒麥爾譴責美國試圖以「威嚇」化解盟友之間的分歧，「法國是一個主權國家，我們能夠，也將繼續制定我們自己的稅務政策。」
另一方面，法國一直呼籲美國在經濟合作暨發展組織（OECD）上與歐盟合作，建立一個公平的「數位稅協議」。
勒麥爾表示法國課徵數位稅，就是為了刺激美國加緊腳步，與歐盟就此議題展開國際合作。因此，勒麥爾強調，若各國能在OECD達成協議，法國願意撤銷國內數位稅法，而且他樂觀地認為今年就能有成果。
法國政府也將數位稅視為實踐「黃背心運動」訴求之一的稅收正義，指出他們不過是想建立一個更公平、更有效率的財政及稅收制度。
美國、歐盟貿易談判談不攏，法國火上加油
然而，美國及歐盟的貿易談判進展並不順利，美法在數位稅上的爭端，還有美法貿易戰爆發的可能性，恐怕會讓美歐關係更加緊繃。
截至目前為止，雙方貿易協商還有許多難以消弭的癥結點。
除了對歐盟出口的鋼鐵及鋁加稅，川普也威脅要對歐盟生產的汽車及零組件課徵25%關稅，讓歐盟深感不滿。而歐盟拒絕將農產品納入貿易協議，其中又以法國最堅決反對讓步，也讓美國難以接受。
其他爭議品項還包括食品、牽引機、民航機等等，美國波音（Boeing）及歐洲空中巴士（Airbus）的競爭也因此成為焦點。
數位稅徵不徵？歐盟內部現分歧
身為第一個開徵數位稅的歐盟國家，法國態度堅定、振振有詞，然而歐盟內部對數位稅的態度卻不盡相同。
根據歐盟執委會，在歐盟進行投資的跨國數位公司，其平均稅率比其他類型的企業低14%左右，今（2019）年歐盟也曾討論在28成員國內課徵數位稅的可能性，最後由於各國缺乏共識而失敗。
法國、德國、英國等工業大國支持數位稅，用低公司稅吸引外資，以金融服務業為導向發展的小國則堅決反對，像是盧森堡及愛爾蘭。
而英國同樣在7月11日公布一項草案，擬於2020年4月開始對從英國消費者獲利的搜尋引擎、社群媒體平台及網路商城課徵2%數位稅，預估一年稅收可增加4億英鎊（5億美元）。
更多信傳媒文章
https://www.telesurenglish.net/news/US-Trade-War-With-France-20190711-0012.html
News > France
US Trade War With France?
The U.S. may even impose retaliatory tariffs on France, of the kind meted out against China during the recent trade war.
On Thursday, The U.S. denounced France for proposing measures to stop tax dodging by big tech firms, many of whom are U.S.-based. The move follows the Trump administration’s keenness for applying aggressive economic pressure, even against their own allies.
The French parliament will vote friday on a bill that hopes to crack down on big tech companies that pay little or no tax to the countries they operate in. Firms such as Google and Amazon are notorious for paying very little, arguing that they should only owe the country where their headquarters are based.
The law would only charge 3% on revenue, but would raise over $400million for the French public purse.
However, the U.S. is angered that American companies could end up paying more. “The digital services tax that France and other European countries are pursuing is clearly protectionist and unfairly targets American companies in a way that will cost US jobs and harm American workers," says the Republican Senate Finance Committee
The U.S. may even impose retaliatory tariffs on France, of the kind meted out against China during the recent trade war.
The aggressive tone from the U.S. is in keeping with the Trump administration’s fondness for weaponizing sanctions and economic pressure. Trump has significantly tightened sanctions on Venezuela, Cuba and Iran, and has even targeted allies, such as when Trump told European countries that they will no longer be allowed an exemption from boycotting Iranian oil, threatening them with financial punishments if they continued to purchase.
https://www.ispionline.it/it/pubblicazione/trade-wars-french-perspective-20683
Commentary
Trade Wars: A French Perspective
John Seaman
| 31 maggio 2018
The Section 232 tariffs on steel and aluminum announced by the United States in March would, if applied, have little direct impact on the French economy, but rather point toward a broader trend of protectionism and economic nationalism and a widening gap in transatlantic relations that is likely to have far-reaching implications for France. More than the tariffs themselves, it is the radical shift in America’s international role – from a core driver of a liberal, multilateral order to a unilateralist disruptor – that is the most problematic. Washington’s incessant beating on the war drums of trade across the globe and the broader unilateralist stance taken by the Trump administration on questions such as climate change or Iran (JCPOA) have severely undercut efforts to confront global challenges in a constructive manner.
The direct and indirect impacts of a trade war
While steel and aluminum are indeed symbolic sectors, French exports of these products to the US totaled only USD 711 million in 2017, accounting for just 1.6% and 1.3% of all US steel and aluminum imports, respectively. Should Washington decide to remove exemptions for the EU, France could expect a direct, initial loss of roughly USD 200 million, according to calculations compiled by CEPII. While this remains rather insignificant in overall terms, the effects of trade displacement would perhaps be more painful, as global supplies of steel and aluminum (already in a glut) seek out other markets (particularly in Europe). Yet the role of these sectors in the French economy has been in steady decline for decades. The impact would be larger for others in Europe – for instance Germany – and France’s position so far has been to support a strong European stance on this issue.
Since US president Donald Trump’s decision on 8 May to withdraw from the JCPOA on Iran, new questions have surfaced over the potential for a broader economic fallout between Europe and the United States. The risks of a transatlantic trade war over Iran are rather minimal, however, and French president Emmanuel Macron has explained that France has no intention of starting a trade war with Washington over the JCPOA. Indeed, the ultimate goal is a successful resolution of the Iranian nuclear question, and perhaps some form of broader agreement relating to Iran’s ballistic missile program and its support for terrorism. These will be unlikely without a return of the US and exchanging sanctions or sparking a trade war with Washington would not be likely to achieve France’s goals.
A broken partnership?
The rise in economic tensions, including the refusal of the US so far to grant a permanent exemption to the EU from Section 232 tariffs on steel and aluminum, has shown the clear limits of president Macron’s efforts to build a close personal relationship with Donald Trump. (President Trump was made guest of honor at France’s Bastille Day parade last July, and treated the French president with the first official state visit of the Trump presidency in April of this year.) Indeed, the argument underpinning the Section 232 tariff measures relates to US national security, and yet France and many other European NATO allies are made to grovel repeatedly before Washington. Moreover, the narrow focus of the Trump administration on tariffs and trade imbalances is a concern. The French Trade Minister, Jean-Baptiste Lemoyne, has explained that France rejects the notion of limited negotiations on tariffs and would push to see broader-based negotiations with Washington on trade liberalization. A key goal for France will be to ensure that the Trump presidency doesn’t completely undo the rules-based system of international trade.
Macron’s bet on globalization must pay off
The political stakes for France, and for President Macron in particular, are high. Macron’s election was hailed as a stop-gap to the wave of populist, nationalist advances in Europe that began even before Brexit, driven in large part by what is seen as the excesses of liberal capitalism and globalization gone wild, which culminated in the global financial crisis. Yet Macron’s victory over populism is only tentative, as the most recent elections in Italy clearly suggest. Since his election, Macron has embraced a European future for France and a view of economic liberalization that has so far translated into a series of contested economic reforms at home. His bet is that by making the French economy more flexible and competitive on the global stage that France can position itself as a leader in the industries of the future, and be in a better position to define the rules for the next wave of globalization – one in which rapid technological advances are likely to have profound social, economic and political implications. Macron sorely needs this bet to pay off. It should not be forgotten that in the first round of the 2017 presidential election, 45% of French voters opted for candidates either the extreme right or extreme left, and that skepticism remains high more than a year after Macron’s election. If the French president is unable to provide tangible results for his vision of a globalized France, his victory over populism could very likely be short lived. This task is made all the more difficult when Washington holds narrow view of American interests.
Contenuti correlati:
Trump's Looming Trade War
https://www.theregister.co.uk/2019/07/12/france_us_trade_war/
Business
Policy
We have the best trade wars: US investigating French tech tax plan over fears it unfairly targets American biz
How dare they. There are shareholders to consider
By Iain Thomson in San Francisco 12 Jul 2019 at 11:20
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The US has declared that it is investigating French plans to impose a 3 per cent tax on tech firms' top line, not the bottom.
"The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," said US trade representative Robert Lighthizer.
"The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce," said Bruno Le Maire, the French Minister for the Economy and Finance.
That commerce is data, and lots of it. The EU is getting increasingly annoyed at tax avoidance and France has made the first move. The proposed GAFA [PDF] (Google, Apple, Facebook and Amazon) law would be a revenue, not profit, tax.
The new law would levy 3 per cent of "targeted online advertising, sales of user data for advertising purposes and online intermediation platforms", and France reckons it can earn €500m a year from the policy. Small businesses are safe – you need to earn €750m, or €25m in France, to be affected.
Smashing the shell game
Over the last decade or so corporations around the world have become very good at avoiding tax, with the tech sector proving particularly adept.
The (perfectly legal) gig is this. You set up headquarters in a low-tax country – looking at you Ireland and the Netherlands – then licence your product out to other EU countries at very high cost so that you barely make a profit.
It's a technique pioneered in Hollywood, where films are taxed on profits. David Prowse, the body of Darth Vader for the original trilogy, opted for a profit payment rather than an upfront deal and so earned very little for Return of the Jedi, which has still to make a profit despite a $32m budget and earning mega-millions.
Tech firms got the message and we're left with the absurd situation that the company effectively owned by the world's richest man hasn't paid taxes in its home country for a couple of years. And it's not alone. Yes, we are referring to Amazon for the absence of doubt.
The French proposal is fairly simple; if our citizens are spending their money with you then we get to take a cut to pay the costs to look after them. Seems fair enough really, but firms used to paying the bare minimum in taxes don't see it that way. After all, as U2's The Edge (aka David Evans) put it in rock 'n' roll terms: "Who doesn't want to be tax-efficient?"
So what's next?
The French law has already brought about some changes, notably a €500m ($570m, £440m) payout from Apple in back taxes.
France has said it will abolish the law if an international solution can be worked out. That seems unlikely. The EU has been working on this issue for some time and still hasn't got the member states to agree, and the prospect of a global agreement seems slim.
A lot depends on how the US reacts. If it goes in hard with sanctions that really bite then other countries might be dissuaded from similar actions. And one thing the Trump administration has proven adept at is starting trade wars.
Certainly tariffs from the US would hurt some sections of French industry. The principle export to the US is aircraft and US manufacturers would be more than happy to get a slice of that pie if Gallic kit becomes more expensive to buy – although existing aircraft would still have to be maintained.
France also exports a certain amount of heavy equipment, particularly in the power sector, and that too could be hurt. But France's other great export market, beverages, would suffer less. Let's face it, if you're buying proper Champagne, Cointreau or Courvoisier, price isn't so much of an issue.
There's also the backlash from other countries if the US is seen to be throwing its weight around over what is a slightly dodgy argument. Governments are usually cash-strapped and the revenues such a tax could pull in would be tempting for many.
The UK intends to introduce a new Digital Services Tax under the Finance Bill legislation, a draft of which was published yesterday. The new tax would apply a 2 per cent charge on revenues reported by search giants, social media outfits and online marketplaces that turn over £500m globally and generate revenue of £25m by providing services to customers in Britain.
Giles Derrington, associate director of policy at TechUK, an industry body comprised mostly of SMEs members but which also includes Google UK and Amazon Web Services, was clearly upset by the proposals.
"As a revenue tax targeted on a narrowly defined set of companies, the Digital Services Tax is not one of those smart measures. It risks making investing in the UK less attractive, increasing costs for consumers and will likely hinder progress towards a long term global solution."
He pointed to the ire in the US caused by France's proposals. "The US government has said that this proposal risks creating new non-tariff barriers to trade, and there is a real risk that the government is putting the UK at risk of retaliation from the US government that would hurt British businesses and consumers."
So there it is. Quelle surprise?
There is a real sense that many countries are getting increasingly sick of the kind of Silicon Valley accounting tricks that the tech titans are using to get out of paying their fair share. Their populaces certainly are – if the average person on the street tried these kinds of shenanigans they'd end up in so much trouble with tax authorities they'd be cavity searched for their last sou, pound or dollar. ®
Tips and corrections
https://time.com/5624371/trump-admi...r-to-france-over-3-tax-on-big-tech-companies/
Trump Administration Threatens to Extend Trade War to France Over 3% Tax on Big Tech Companies
Julia Webster
5:33 PM ET
The Trump Administration is threatening the extend its trade war to France as the country prepares to hit big tech companies––many of them American––with a new tax.
A 3% levy on tech giants was approved by the French Senate on Thursday, despite it upsetting the U.S., which has announced it has launched an inquiry into the law.
“The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies,” said U.S. Trade Representative Robert Lighthizer in a statement.
“The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce.”
Any digital company with revenue over €750 million (about $850 million)––of which €25 million is generated in France––will be subjected to the 3% levy, which will be based on total revenue generated in the country, rather than profits.
France is the first country in Europe to introduce this kind of tax. It would hit about 30 companies, including Google, Apple, Facebook and Amazon. It will also apply to companies from China, Germany, Spain and the U.K. and one French company.
Global tech companies have been accused of avoiding tax by shifting profits to countries with very low taxes, where they have headquarters, rather than where they make their sales.
“We must act against the perverse effects of a regulatory and fiscal framework that allow digital giants to grow without any limits and without any control," French Finance Minister Bruno Le Maire said when he introduced the bill earlier this year.
The tax faced criticism from tech executives, who said it would damage French President Emmanuel Macron’s attempt to transform the country into a “start-up nation.”
“It’s quite possible that there will be heightened trade tensions between the U.S. and France as the Americans view the digital tax as unfairly targeting U.S. tech companies which falls afoul of 'America First,' the doctrine that guides U.S. economic policy," Linda Yueh, an adjunct professor of economics at the London Business School, said in an email.
But, she added, other countries are already looking at new taxes on big tech companies. "France is unlikely to be alone," Yueh said.
The tax will be retrospectively applied from early 2019, raising around €400m ($450m) for the French government this year.
