US Tariff Threats May Harm Alliance, EU Finance Ministers Say

Law360 (June 29, 2020, 5:19 PM EDT) -- The finance ministers of four European countries have written to the U.S. Treasury secretary, saying that threats by the U.S. to impose tariffs in response to national tax policies of other countries could damage good relationships between allies.

In the letter, seen Monday by Law360, the finance ministers suggest that a phased approach to the more effective taxation of digital giants, which initially focuses on automated digital services, could be the key to unlocking an agreement among 137 jurisdictions, including the U.S., that are negotiating a fundamental rethinking of the rules for taxing multinationals.

The finance ministers of France, Italy, Spain...

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