The Trump administration has proposed 100% tariffs on French goods imported into the U.S. in retaliation for France's imposition of a digital tax on large U.S. tech companies.
The office of the U.S. Trade Representative made the proposal in a filing released late Monday.
"The U.S. Trade Representative has determined that France's Digital Services Tax is unreasonable or discriminatory and burdens or restricts U.S. commerce. The U.S. Trade Representative proposes action in the form of additional duties of up to 100 percent on products of France," according to the filing.
France approved the tax measure last summer, imposing a 3% tax on French revenue of technology companies.
The measure was seen as targeting Facebook (FB) - Get Report , Amazon.com (AMZN) - Get Report and Alphabet (GOOGL) - Get Report . At the time it passed, the Trump administration condemned the measure as being unfair to U.S. companies.
Amazon, Facebook and Alphabet are holdings in Jim Cramer's Action Alerts PLUS member club.