One of the earliest reports from yesterday’s U.S. Trade Representative wine tariff hearing (the first of two), including notes on the “two dozen wine wholesalers and retailers” who spoke.
Couple of big takeaways:
- French Economy Minister Bruno Le Maire told reporters in Paris that he and U.S. Treasury Secretary Steven Mnuchin had agreed to double their “efforts in the coming days to try and reach a compromise on digital taxation at the OECD.”
“We gave ourselves 15 days, until our next meeting in Davos in end-January. We want to try all options to reach an agreement at the OECD in the next 15 days,” Le Maire said.
Could we have a decision on this by the end of the month?
- Amazon, Google and Facebook endorsed the administration’s plan to slap tariffs on $2.4 billion worth of French cheese, Champagne, handbags and other goods if a negotiated solution can’t be reached over the tax, which applies to such things as targeted advertising and providing platforms to connect buyers and sellers.
We are up against the mighty three. Do we stand a chance?