Europe's five biggest economies warn Trump that his tax plan may violate (tr)

Daily Mail ^ | Dec 12, 2017 | JULIAN ROBINSON

[Oshkalaboomboom]

Europe's five biggest economies have warned Donald Trump that plans for massive US tax reforms may end up violating international trade rules.

Finance ministers from Germany, France, Britain, Italy and Spain say they have 'significant concerns' about some of the US President's tax initiatives and fear they could harm the global economy.

In a letter to US Treasury Secretary Steven Mnuchin, the ministers said the tax overhaul could risk 'seriously hampering genuine trade and investment flows' between Europe and America.

Their warning mirrors fears among some European businesses that aspects of Mr Trump's tax-reform bills may have been designed to give American companies an advantage over foreign rivals.

The ministers, including Britain's chancellor Philip Hammond, warned the measures could 'discriminate' in a manner which would contravene World Trade Organisation (WTO) provisions, would be inconsistent with double taxation rules, and would be 'poorly targeted' at helping to combat tax avoidance.

'The inclusion of certain less conventional international tax provisions could contravene the US's double taxation treaties and may risk having a major distortive impact on international trade,' the letter stated.

One of Mr Trump's proposals would see US companies forced to pay a 20 per cent tax on payments to foreign companies – effectively forcing them to spend money with American firms.

[existentially_kuffer]

The EU needs to list the 5 lowest EU members with their own lowest corporate/income tax. This will show their ignorance in their backyard. Communism means forced “common” for the good of all slaves.

[Yosemitest]

FRANKLY, my dear, ... we don't give a ..... !

[MRadtke]

So the new tax plan makes it harder for European nations to take advantage of the U.S. Cool.

[WKUHilltopper]

FUEurope. Go bring in some more Islamic suicide bombers and have a nice day!

[aces]

Then it time for world war because we cannot surrender ourselves to international law without losing badly

[Magnum44]

These globalist foreigners sure have some gall...FOAD

[PTBAA]

I guess they shouldn’t have relied on us for their defense.

Perhaps they’ll invade by insisting that we take their “refugees”.

[yldstrk]

Meaning they will have to reduce their own taxes to be competitive

[Gay State Conservative]

It will either help *our* economy...or it won't.How it affects the “world” economy isn't our problem.Got it,Frau Merkel....East Germany's favorite “son”?

[eyeamok]

Europe has let in Millions and Millions of Muslim refugee’s, why don’t they just TAX Goats to make up for the shortfall??

[hal ogen]

Doesn’t “europe” remember that we saved their a**es from them selves twice last century? What losers and ingrates.

[bgill]

Hey, Europe, I only care about America’s economy.

[VRWCarea51]

Not only that, the cheese eating surrender Monkeys can’t even pay their portions of General defense costs thru the UN.

Europeon parasites.

[hal ogen]

European arrogant parasites.

[I want the USA back]

Good. Trump wants to take away the advantage that they have over us. Let them pound sand.

[DoughtyOne]

Thanks so much for your support to this point... I personally apprecaite it...
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President Donald J. Trump and the Free Republic of the United States of America
President Donald J. Trump's address to the United Nations on 09/19/2017.

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[Sequoyah101]

How funny.

They’re kidding right?

[Frank_Symptoms]

But their low corporate tax rates that sucked businesses out of the U.S. for decades were just fine.

They are just mad that the gravy train is stopping.

[FrankR]

What part of Trumps, “America FIRST”, do these countries NOT understand?

WE tend to our business, YOU tend to yours.

Trump has been saying he’s going to overhaul “trade”, since day one...where have these people been?

Here’s the deal...you Europy folks don’t tell us how to run OUR economy, and we won’t give a $hit about your F’d up immigration debacle.

Enjoy the Koran and Sharia law, folks.

[butlerweave]

Oh No ,Europe will lose it’s US tax refund ,LOL