EU to respond ‘as one’ on US tariff threat against France

French Finance minister Bruno Le Maire said Tuesday that Paris would ensure a ‘strong’ response in the event of US tariffs as an internet-inspired tax and trade conflict heated up. (AFP)
Updated 04 December 2019

EU to respond ‘as one’ on US tariff threat against France

  • French Finance minister Bruno Le Maire warned Washington that the European Union could generate a robust reply

PARIS/BRUSSELS: The European Union will answer tariff threats by the United States against France “as one” and urged Washington toward dialogue, an EU spokesman said on Tuesday.

“As in all other trade-related matters, the EU will act and react as one and it will remain united,” said EU commission spokesman Daniel Rosario after the US threatened tariffs on French goods on Monday.

The threat was in response to a French digital services tax that Washington says is discriminatory as it singles out US tech giants such as Google and Facebook.

French Finance minister Bruno Le Maire earlier said Tuesday that Paris would ensure a “strong” response in the event of US tariffs as an Internet-inspired tax and trade conflict heated up.
Le Maire told Radio Classique that threatened US tariffs on French goods such as sparkling wine, yogurt and Roquefort cheese were “inacceptable” and warned Washington that the European Union could generate a robust reply.
“We were in contact yesterday with the European Union to ensure that if there are new American tariffs, there will be a European response, a strong response,” Le Maire said.


MoU signed to facilitate investment in Saudi Arabia

Updated 21 February 2020

MoU signed to facilitate investment in Saudi Arabia

RIYADH: The Saudi Arabian General Investment Authority (SAGIA) and the Diriyah Gate Development Authority (DGDA) signed a memorandum of understanding (MoU) to step up cooperation, the Saudi Press Agency reported on Thursday.

Under the MoU, the two authorities will establish a joint working group to boost cooperation in several areas including facilitation provided to investors, conducting economic studies of the market, building partnerships with commercial and industrial bodies and local companies, launching businesses, promoting the ease of doing business, providing logistic support, participating in local and international exhibitions, forums and special visits and exchanging knowledge and information.

All this will predominantly be in aid of attracting local and foreign investors. 

“SAGIA believes in the importance of such cooperation that can unify and multiply the efforts in a way that sets the world’s attention on the Kingdom’s cultural and heritage treasures and investment opportunities,” said SAGIA Gov. Ibrahim Al-Omar.

“This is done through close cooperation with DGDA to highlight these opportunities and market them internationally and locally. This MoU is a step in the right direction to achieve the objectives and directives of both bodies.”

Jerry Inzerillo, CEO of the DGDA, said: “Cooperating with SAGIA is one of the most important international investment motors to attract local and international investments to the Kingdom. This comes at a time where developing the Kingdom’s investment infrastructure is found within the objectives of its Vision 2030.

“At DGDA, we aim at attracting the best technologies and regional and international investments to the Kingdom. This will contribute to the improvement of the local economy and promote our objectives seeking to turn Diriyah into the Kingdom’s gem and an international economic tourist destination,” he added.