U.S. sets and suspends tariffs on six countries over digital taxes
Reuters2021-06-03
WASHINGTON, June 2 (Reuters) - The United States on Wednesday announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations to continue.
The U.S. Trade Representative's office said it had approved the threatened tariffs on goods from Britain, Italy, Spain, Turkey, India and Austria after a "Section 301" investigation concluded that their digital taxes discriminated against U.S. companies.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
