The European Union-backed France said on Tuesday it is ready to act against the U.S. threat of imposing tariffs on French products including champagne, cheese, and handbags amounting to $2.4 billion.

U.S. President Donald Trump threatened to impose duties of up to 100% on French imports after its investigation revealed that a new digital services tax in France would affect American technology firms. This latest trade dispute will add to the already faltering relationship between the EU and the U.S.

“They’re American companies. They’re tech companies. They’re not my favorite people, but that’s okay, I don’t care, they’re American companies. And we want to tax American companies. It’s not for somebody else to tax them,” said Trump.

Finance minister of France said tariff threat was unacceptable and affirmed EU’s backing up once the U.S. officially imposes tariffs on French products.

“I am determined to defend the interests of my country and of Europe,” said Macron.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong