French President Emmanuel Macron says France and the U.S. have reached a “very good agreement” defusing tensions over a French tax on online giants like Google.
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The tax had prompted threats from U.S. President Donald Trump of heavy tariffs on French wine.
Speaking Monday alongside Trump, Macron said they made “considerable headway in the spirit of unity” at the Group of Seven summit in Biarritz, France.
Macron said France would reimburse companies who pay the tax once an international tax deal is in place to replace the 3% French tax on French revenues of big online companies. It’s aimed at reducing tax avoidance for digital multinationals.
Macron also said he hopes for a meeting in coming weeks between U.S. President Donald Trump and Iranian President Hassan Rouhani.
Macron said G-7 leaders had agreed that Iran needs to meet its nuclear obligations and that there was a hope for a diplomatic breakthrough in the tensions that have grown since the U.S. left the 2015 nuclear accord.