It has come to our attention that the French government has recently imposed a tax on trading of ADRs of French companies. It has further come to our attention that U. S. brokerages are collecting this tax on behalf of the French government.
This is equivalent to the French government imposing a tax when one sells an old book to a neighbor merely because it was printed in France.
If French companies wish to have access to our financial markets, the freest and fairest anywhere, then they must submit to our laws and regulations when they list here, not the other way around.
The French have no right to tax transactions occurring solely and the U. S. and e are outraged that we are permitting the French government to usurp U. S. sovereignty, Please stop it.