Posted on 12/12/2017 5:32:22 AM PST by Oshkalaboomboom
Europe's five biggest economies have warned Donald Trump that plans for massive US tax reforms may end up violating international trade rules.
Finance ministers from Germany, France, Britain, Italy and Spain say they have 'significant concerns' about some of the US President's tax initiatives and fear they could harm the global economy.
In a letter to US Treasury Secretary Steven Mnuchin, the ministers said the tax overhaul could risk 'seriously hampering genuine trade and investment flows' between Europe and America.
Their warning mirrors fears among some European businesses that aspects of Mr Trump's tax-reform bills may have been designed to give American companies an advantage over foreign rivals.
The ministers, including Britain's chancellor Philip Hammond, warned the measures could 'discriminate' in a manner which would contravene World Trade Organisation (WTO) provisions, would be inconsistent with double taxation rules, and would be 'poorly targeted' at helping to combat tax avoidance.
'The inclusion of certain less conventional international tax provisions could contravene the US's double taxation treaties and may risk having a major distortive impact on international trade,' the letter stated.
One of Mr Trump's proposals would see US companies forced to pay a 20 per cent tax on payments to foreign companies – effectively forcing them to spend money with American firms.
(Excerpt) Read more at dailymail.co.uk ...
His tax plan may violate? Then again, it may not.
What are they going to do, invade?
Gee I guess they will have to go to court and sue us. I’m sure the world court has an army that can invade the US
Are we supposed to shive a git about “Europe’s five biggest economies”?
Oh please dont invade us....he he he
Oh please dont invade us....he he he
We submitted and repealed country of origin labeling. We rolled over for that and much more.
Sure sign that Trump’s tax plan is right thing to do
And people here actually cry about what is happening to Europe?
They can all go to hell.
Taxes are not paid by companies. Taxes are an expense and are added into the products’ price. Lower taxes mean less expensive products. Every trade agreement under the globalists was designed to normalize taxes. This eliminates any advantage US companies have.
Only they are allowed to give their countries an advantage. We are supposed to rollover and let our economy take the hit.
Finally a President that cares about the US economy.
Tango Sierra, Europistan!
True translation . . . we can’t keep our taxes on individuals absurdly high so we can subsidize OUR corporations if you pass this tax plan . . .
More proof of just how much of OUR SOVEREIGNTY the kenyan usurper, comrade clinton and the Bushies surrendered to the new world order.
LOL. When you are drawing flak, you are over the target. The days of being Uncle Sap are over. Bring it on globalists!
The CBO, Joint Committee on taxation, etc., forgot to tell Europe.
Trump is playing 3d chess with them.
As if Europistan means anything anymore.
The muzzies will fully ruin their economies in a decade or so, so why do we care?
The EU assumes the unelected superceed the citizen voters.
All such agreements have escape clauses.
We they ratified or are they “understandings”?
I bet combined these economies are only 1/50th the size of the USA.
Yes...the only reason those UN reps talk $hit is because they know everyone in DC agrees with them. If I was pres. they would be deported the same day!
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