Dollar Dips As Trump-Macron Agree On Tariff "Truce" Through Year-End According to a French diplomat, French President Macron and US President Trump have agreed a truce in their dispute over digital taxes that will mean neither side imposes punitive tariffs this year. As a reminder, France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide. After concluding that the tax on digital revenues - that hits large American tech companies including Google, Apple, Facebook and Amazon.com - unfairly discriminated against US tech companies, the Trump administration had threatened to impose 100% tariffs on up to $2.4 billion of French imports, including champagne. But, if the diplomat and Macron's tweet are to be believed, both sides have de-escalated... “Great discussion with @realDonaldTrump on digital tax,” Macron said in a tweet. “We will work together on a good agreement to avoid tariff escalation." Great discussion with https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); on digital tax. We will work together on a good agreement to avoid tariff escalation. — Emmanuel Macron (@EmmanuelMacron) https://twitter.com/EmmanuelMacron/status/1219329693863772160?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); The dollar dipped back to unchanged on the news... The two countries will continue negotiations along with their European partners until the end of 2020 in order to agree a global framework that ensures tech companies pay an appropriate amount of tax, the diplomat said. Tyler Durden Mon, 01/20/2020 - 14:11 Tags Technology Internet Politics