Macron and Trump Declare Truce in Digital Tax Dispute

French President Emmanuel Macron said on Monday he had a "great discussion" with U.S. President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs. From a report: The two leaders agreed to the truce after Paris offered to suspend down payments for this year's digital tax and Washington promised to keep negotiating toward a solution rather than acting on a tariff threat, French sources said. Specifically, Macron and Trump agreed to hold off on a potential tariff war until the end of 2020, a French diplomatic source said, and to push ahead with broader negotiations at the Organization for Economic Cooperation and Development to rewrite the rules of international taxation during that period. "They agreed to give a chance to negotiations until the end of the year," the source said. "During that time period, there won't be successive tariffs." France decided in July to apply a 3% levy on revenue from digital services earned in France by companies with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide.

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