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Here We Go Again: U.S. Threatens 100% Tariffs on French Cheese and Champagne

No one said understanding economics was easy, but who knew it could be bad for your dinner party? Officials suggested that about $2.4 billion worth of French products could receive new duties as high as 100%. High profile items like Champagne and cheeses would be included in the tariffs. The announcement comes after an investigation in to France's new 3% tax on digital service providers. According to the executive branch, the tax "is intended to ... discriminate against U.S. digital companies." Companies like Google and Facebook are affected by France's new 3% tax. So the tariff on French goods would be a retaliatory measure on behalf of digital companies. If 100% duty comes to fruition, the effect on prices will be significant.

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