Pause for effect as Biden adds leverage for global tax talks

Cons. Discr. - Durables 447 Cons. Discr. - Retailing 399 Tariffs 1764 Turkey 59 U.S. 5149 United Kingdom 339

The Biden administration has completed its review of digital services taxes imposed by six countries and has put in place retaliatory import duties that will come into effect in six months’ time. The impose-and-suspend approach is linked to the administration’s wider negotiations at the OECD and G20 levels to agree new, global minimum taxation levels. The U.K. faces duties on $741 million of shipments in 2020 out of the total $1.90 billion targeted by the measures. It’s also likely to negotiate in the context of a wider trade deal as well as other tariffs linked to aerospace tariffs and ...

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