France and the United States have reached agreement on a joint framework to end a dispute on taxing American digital giants that risks the imposition of sanctions, French Finance Minister Bruno Le Maire said on Wednesday.

"We have reached agreement... on a joint global framework," Le Maire said after talks with US Treasury Secretary Steven Mnuchin at the World Economic Forum in Davos. He said this would mean France delaying payments required for its digital tax to December 2020 and the US holding back on its planned sanctions.