The US authorities introduced Wednesday it’s suspending for six months any punitive tariffs on Britain, India and 4 European nations whereas it really works to resolve a dispute over digital companies taxes. “The United States is concentrated on discovering a multilateral answer to a spread of key points associated to worldwide taxation, together with our considerations with digital companies taxes,” US Trade Representative Katherine Tai said in a statement.
The suspension, which applies to Austria, Italy, Spain and Turkey, comes at the conclusion of year-long investigation into taxes which Washington said discriminated against big US tech companies like Apple, Amazon, Google and Facebook.
But USTR made clear it still had the option to impose the punitive duties on goods from the countries that adopted the taxes. President Joe Biden’s administration is pushing for a 15 percent global minimum corporate tax that aims to resolve the issue of corporations sheltering profits in low-tax nations.
“The United States remains committed to reaching a consensus on international tax issues through the OECD and G20 processes,” Tai mentioned. “Today’s actions present time for these negotiations to proceed to make progress whereas sustaining the choice of imposing tariffs… if warranted in the long run.”
USTR in January suspended 25 percent tariffs on $1.3 billion in French goods imposed in the digital tax dispute.
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