USA promises 100% tariffs for French champagne, cheese, digital tax bags

USA promises 100% tariffs for French champagne, cheese, digital tax bags

The US government on Monday (2 November) said it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France’s new digital services tax would harm US tech companies. The US Trade Representative’s office said its “Section 301” investigation found that the French tax was “inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected US companies,” including Alphabet Inc’s Google, Facebook Inc, Apple Inc and Amazon.com Inc. US Trade Representative…

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Italian Conte rebukes opposition when debate over ECM reform erupts

Italian Conte rebukes opposition when debate over ECM reform erupts

Italian prime minister Giuseppe Conte called upon the right-wing opposition to act responsibly in talks over the reform of the eurozone bailout fund, the European Stability Mechanism (ESM). Conte blamed opposition parties including the far-right Lega of Matteo Salvini and the right-wing Fratelli d’Italia of Giorgia Meloni for “unscrupulous behaviour” in raising public opinion’s attention to the overhaul of the ESM. “The opposition is showing a poor culture of rules and a lack of respect for the institutions,” Conte told the Parliament on Monday (2 December). For Conte, the right-wing…

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According to Lagarde, ECB will review its mandate with “impartiality”

According to Lagarde, ECB will review its mandate with “impartiality”

The European Central Bank (ECB) will embark on a strategic review of its mandate and instruments to achieve its inflation target of 2% with an “open mind”, its president Christine Lagarde said on Monday (2 December). Speaking at the European Parliament’s committee on Economic and Monetary Affairs (ECON), Lagarde said that “the entire community” of central bankers today are debating how to best define their medium-term objective of monetary policy. The ECB’s mandate is to ensure price stability with an inflation rate below but close to 2%. However, changes in…

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