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.
Photo: Ng Sor Luan/AP/Ritzau Scanpix
Photo: Ng Sor Luan/AP/Ritzau Scanpix
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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