US: Allow tech giants to opt out of new global tax scheme, or face tariffs

US treasury secretary Stephen Mnuchin warned G20 members of retaliatory tariffs should negotiations for a global tax on tech giants fail, Reuters reports. “We’ve been very consistent in saying we think the digital services tax is discriminatory in nature against digital companies, and specifically a handful of US companies,” Mnuchin told reporters attending a G20 meeting in Saudi Arabia on Sunday. “The president was clear that we were proceeding with […] reciprocal tariffs.” The Organisation for Economic Cooperation and Development (OECD), which is in charge of international tax discussions like these, has floated new rules to force major players in…

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