French shipping billionaire slams lawmakers’ windfall tax plan

CMA CGM is under political pressure in France to share some of its extraordinary profits to counter inflation. At a hearing in a French Senate Wednesday, CEO Rodolphe Saade opposed a windfall tax plan. “When my freight rates were at USD 350, where were you?” he asked senators.

By Tara Patel, bloomberg news

The billionaire head of shipping giant CMA CGM SA pushed back against a plan by some French lawmakers for a windfall tax on excessive corporate profits to fund measures to soften the impact of inflation on households.

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CMA CGM to lower freight rates – but only for domestic customers
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France's finance minister wants CMA CGM to share its profit with the French people
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