US President Donald Trump recently commented on France’s decision to tax big technology companies.
“France just put a digital tax on our great American technology companies,” Trump said via Twitter. “If anybody taxes them, it should be their home country, the USA. We will announce a substantial reciprocal action on Macron’s foolishness shortly. I’ve always said American wine is better than French wine!”
Although it’s difficult to assess the market reaction to Trump’s remarks, the S&P 500 Communication Services Index, which capitalized on upbeat earnings figures from Google Alphabet, was last up 3.15% on the day.
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