US sets – and quickly suspends – tariffs on UK and others over digital taxes

Biden administration suspended duties to allow time for negotiations over digital-services taxes on US tech companies

The Biden administration announced 25% tariffs on over $2bn worth of imports from the UK and five other countries on Wednesday over their taxes on US technology companies, but immediately suspended the duties to allow time for negotiations to continue.

The US trade representative, Katherine Tai, said the threatened tariffs on goods from Britain, Italy, Spain, Turkey, India and Austria had been agreed after an investigation concluded that their digital taxes discriminated against US companies.

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from World news | The Guardian https://ift.tt/3cvHcVF