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U.S., France Sidestep Tax Feud for Now After G-7 Confrontation (1)

July 18, 2019, 2:03 PMUpdated: July 18, 2019, 4:15 PM

The U.S. and France agreed to push ahead with creating a global digital tax system at a Group of Seven meeting, papering over a feud on the matter that still has Washington dangling threats of tariffs.

French Finance Minister Bruno Le Maire said Europe had won a concession from the U.S. that changes to tax rules should address “highly digitalized business models.” With agreement on that language, the Organization for Economic Cooperation and Development can continue work to define a framework for taxation of companies such as Facebook Inc. as soon as January 2020, he said.

“The G-7 began in ...