France agreed to postpone until the end of this year a tax that it levied on big tech companies last year. In return, the U.S. will postpone retaliatory tariffs until then.
France and the U.S. have struck a truce on the divisive issue of taxing digital giants like Google parent Alphabet Inc., averting a trade war on the matter—at least for now.
The detente comes after the French President Emmanuel Macron reached out by phone to President Trump on Sunday seeking a way to end the threat of tariffs while they work out a broader accord on digital taxation, according to U.S. and French officials.
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