UBS On-Air: Paul Donovan Daily Audio 'Handbag Wars'

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Trade tensions are back. France is demanding payment of its digital tax. Collection was suspended earlier this year, liability was not. US President Trump previously threatened to tax US consumers of French handbags and lipsticks 25% in retaliation. This is unlikely to affect Christmas sales (the goods will already be in the US). The question is how the new administration reacts?there could be an attempt to revive OECD talks on digital taxation.

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