EU: US Tax Plans Could Endanger Trade 12/18 06:18
BRUSSELS (AP) -- The European Union's executive branch is warning the United
States that its planned tax overhaul could violate some of its international
obligations and risks "seriously hampering" trans-Atlantic trade.
In a letter to U.S. Secretary of the Treasury Steven Mnuchin, the EU
Commission reinforced a similar move by Germany, France, Britain, Italy and
Spain to stress it has serious concerns over several tax initiatives.
EU Commission spokesman Margaritis Schinas said Monday that "the draft U.S.
tax bill as it currently stands contains elements that risk seriously hampering
trade and investment"
Schinas said EU institutions and nations "believe that it is in the joint
EU-U.S. interest to avoid this."
EU nations have been warily eyeing President Trump's domestic tax proposals
and fear they might hurt world trade and EU companies in particular.