The NS Biden administration announced 25% tariffs on US tech companies on more than $ 2 billion in imports from the UK and five other countries, but immediately tariffs to give time to pursue the negotiations.
Katherine Tai from the US Trade Representative has joined the UK, Italy, Spain, Turkey, India and Austria. It was agreed after the investigation found their digital tax discriminates against US businesses.
The move highlights the threat of US retaliation against digital service taxes on US-based companies such as Alphabet, Apple and Facebook, which were first taken under the Trump administration. The biggest company in the world.
The Office of the United States Trade Representative (USTR) has released a list of imports that will be subject to tariffs if international tax negotiations are not resolved. Goods worth $ 878 million from the UK, such as clothing, overcoats, shoes and cosmetics, as well as goods worth around $ 386 million from the UK. ‘Italy, such as clothing, handbags and optical lenses. A 25% fee will be charged. The USTR has said it will impose tariffs on goods worth $ 323 million and $ 310 million from Spain. Turkey, $ 118 million from India, $ 65 million from Austria.
Potential tariffs based on import data in 2019 aim to be equal to the amount of digital tariffs imposed on U.S. businesses, USTR officials say.
The news comes as financial leaders from the G7 countries meet in London on Friday and Saturday to discuss the state of tax negotiations, including the taxation of large tech companies and the proposed global minimum corporate tax to United States. It was announced. US France tariffs Digital taxation was suspended in January to allow time for negotiations.
Mr. Thailand said he was focusing on “finding multilateral solutions” to the digital tax and other international tax issues.
“Today’s actions, if justified in the future, allow time for these negotiations to continue moving forward, while retaining the possibility of imposing tariffs under Article 301”, Thai said.
Thailand faced a deadline to announce tariff measures on Wednesday. Otherwise, the statutory powers of trade investigations would have expired.
A UK government spokesperson said UK taxes are temporary and are meant to ensure tech companies pay a fair tax burden. âOur digital services tax is reasonable, proportional and non-discriminatory,â said a spokesperson. “It is also temporary and we are actively working with international partners to find a comprehensive solution to this problem.”
Reuters contributed to this article
The United States will set tariffs on the United Kingdom and other countries on digital taxes and immediately stop jobs.
Source link US will set tariffs on UK and other countries on digital taxes and stop immediately jobs