"All the others have rallied around [the OECD] proposal,” Le Maire said told hearing in the French Senate, referring to the Organization for Economic Cooperation and Development, where countries are negotiating a deal on taxing digital companies.
Le Maire added that he was in close talks with U.S. Secretary of the Treasury Steven Mnuchin to “convince him that this first step [had] to be taken.”
Washington last week upped its threat to retaliate against countries if they adopt digital taxes that Washington claims are unfairly aimed at U.S. tech companies by launching a so-called Section 301 investigation.
A major bone of contention is a proposal by Mnuchin on a “safe harbor” to let companies choose to operate under a potential new taxation regime or not. Policymakers from other countries have opposed any bid to make the tax optional.
Following a threat from Donald Trump to put tariffs on French luxury goods, France backed down on its digital tax in January. Paris has delayed the implementation of its levy to add time to negotiations at the OECD level, but warned it would enforce it if no agreement is reached by the end of the year.
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