What happens is that a French person on vacation in the USA pays US taxes, for example the state tax on what s/he buys. S/he starts paying French taxes again when going back home. It looks fair.
But if that US business goes to France and sells to French customers there, then it should pay French taxes in France on the profits made from French customers. All loopholes should be removed.
What happens is that corporate taxes ultimately come from the pockets of customers. Either those companies will raise prices or lower their profits. Either way this will help local companies that currently can't exploits loopholes to pay no taxes and are at an unfair disadvantage. Somebody could see it as protectionism, I think the existence of those loopholes is a bug that has to be fixed.
But if that US business goes to France and sells to French customers there, then it should pay French taxes in France on the profits made from French customers. All loopholes should be removed.
What happens is that corporate taxes ultimately come from the pockets of customers. Either those companies will raise prices or lower their profits. Either way this will help local companies that currently can't exploits loopholes to pay no taxes and are at an unfair disadvantage. Somebody could see it as protectionism, I think the existence of those loopholes is a bug that has to be fixed.