US trade policies dominated the G7 summit and some of the news seemed positive, including a possible deal on taxing online powerhouses — while avoiding new tariffs on French wine.
Last month, a 3% tax was introduced on French revenues of big tech companies like Google and Amazon, which currently pay next-to-no taxes on sales in that country.
A French official told the Associated Press that it would cancel the tax if an international tax deal on digital multinationals is put in place by 2020 - 2021, adding that it would reimburse companies if that tax is lower than the French tax.
US President Trump threatened to tax French wine in retaliation, but also said that he was “thinking about it” and it depended on how the digital tax panned out, with more details to be unveiled on Monday.