Wed. Nov 25th, 2020

Wall Street slides as Trump intensifies trade worries – business live

Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French cheese, wine, handbags and porcelain

2.44pm GMT

Ouch! America’s stock market has fallen 1% at the start of trading in New York.

2.43pm GMT

Trump then repeats his earlier argument that it’s wrong for France to tax US companies, through its digital services tax.

[America’s complaint is that the French plan is based on the revenues of US tech firms, not simply the profits they make in France]

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