US threatens to slap tariffs on Italy and Britain in digital tax fight
Mnuchin said Tuesday the US will impose fresh tariffs on Italy and Britain if they move forward with plans to tax technology companies like Google and Facebook.
The warning came a day after the US reached a truce over a similar tax that was passed in France last year. The US will impose fresh tariffs on Italy and Britain if they move forward with plans to tax technology companies like Google and Facebook, Treasury Secretary Steven Mnuchin said Tuesday. In return, President Donald Trump will suspend threatened tariffs of up to 100% on $2.4 billion worth of products such as wine and cheese. While those tariffs were meant to penalize France, they would have also raised prices for US businesses and consumers.
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