is the hatchet really buried with the United States?


If Emmanuel Macron was pleased to have found "a very good agreement" with the United States, Donald Trump remained very evasive.

"I think we found a very good agreement." Emmanuel Macron welcomed, Monday, August 26, the closing of the G7 in Biarritz, to have reached a compromise with the United States about the tax on the digital giants that wants to set up France. Before the summit, the 3% tax, dubbed the Gafa tax (for Google, Apple, Facebook, Amazon), sparked the ire of Donald Trump, who had threatened, in return, to tax French wine.

Definitively adopted on July 11, this tax must affect thirty major groups, mostly American, but also Chinese, German, Spanish or British. According to Bercy, it should bring France 400 million euros this year, then 450 million in 2020 and 550 million in 2021.

With this agreement, France seems to have succeeded in telling the Americans that it would not come back on this tax. However, everything is not settled between Paris and Washington, which has not specifically rejected the idea of ​​trade sanctions. The outcome of this crisis will be sustainable.

What does the "agreement" announced by Emmanuel Macron contain?

This agreement is based on the ability of all G7 countries to agree in 2020 on an international tax for digital multinationals. Once this multilateral tax system comes into effect, after an agreement in the OECD countries, France "Delete" his tax Gafa and will refund the companies their payment in the form of deduction, explained Emmanuel Macron.

"What is negotiated with the United States is that anything that has been paid in excess of the international solution will be deducted for business", said the Minister of Economy, Bruno Mayor. "If the company pays 100 million euros in 2019 under this French tax, and in comparison with an international tax that will be implemented it pays 20 million more, the 20 million will give a deduction to 'business", he explained.

How did the United States react?

Emmanuel Macron announced the conclusion of this agreement Monday afternoon, at a joint press conference with Donald Trump, which has not contradicted. But the American president remained very ambiguous about the events. Asked whether Washington was therefore retaliating against imports of French wine, he remained evasive. "I can confirm that the First Lady loves French wine"he joked, without saying more.

"As long as there is no agreement, he can not say he will not do it," relativized an optimistic Emmanuel Macron on the set of the "20 heures" of France 2: "We've pacified things, I think it's no longer on the agenda."

What will happen in the next few months?

The work, which has been accelerating for several months in the context of the OECD, will continue. It is within this body gathering 36 developed countries (including the United States and most of the EU countries) that will take place the discussions of the future framework to put in place to fight against the tax evasion of multinationals digital.

According to a source close to the file cited by AFP, a compromise solution is under consideration, which could be presented before the meeting of G20 Finance Ministers in mid-October. If an agreement is finally reached within the OECD, the United States and France could apply it immediately, bilaterally, without waiting for it to enter into force officially, say The echoes. A French source quoted by the business paper says that this system could apply from 2021.

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