Trump and Macron may come to an agreement

Tuesday December 10 2019 by Vitisphere

The American and French Presidents are reportedly hammering out an agreement on the French Gafa tax.The American and French Presidents are reportedly hammering out an agreement on the French Gafa tax. - Photo credit : DR

We have a minor dispute. I think we will probably be able to overcome it”, Donald Trump said during a meeting in London with Emmanuel Macron, as reported by an AFP dispatch. “I think that with President Trump we can resolve this situation”, said the French President in the same dispatch.

700 million euros in revenue

If these statements are confirmed, the French wine industry may find solace in them after experiencing a few hairy moments on December 3, when it learned of the US’s intention to tax sparkling wines after increasing tariffs on still wines last October. In a press release, the French Federation of Wine and Spirits Exporters expressed its concern in the early afternoon of December 3. It estimates the value of sparkling wine exports to the United States at €700 million, thereby accounting for nearly 40% of total French wine exports to this market (over the last 12 months ended at the end of September). Its chairman, Antoine Leccia, called on “the President to take, as of today, all the necessary measures, at national, bilateral and international level, to ensure our industry does not pay the price of the economic and political choices made by France”.

 

 

 

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