>>> ..... could contravene the US’s double taxation treaties and may risk having a major distortive impact on international trade ...... <<<
Ho ho ho. A threat, you think? How do you say GFY in EU language?
GFY!
We can and will deal with ‘a major distortive impact on international trade’ when the crisis comes up.
One of the things Obama wanted to do was surrender US sovereignty over trade and tax policy by signing the US up to treaties limiting what the president and government could “legally” do. This is why I didn’t want him the US to sign up to that huge Trans Pacific partnership deal. Anytime the US made a domestic move that some foreign company didn’t like, and that would be every move, the US would get taken to a foreign court and lose. Some of these trade deals are literal suicide pacts. Bush II put a tariff on steal. The US got taken to court and lost. When Bush didn’t immediately remove the tariff, our trading partners were incredibly sophisticated in retaliating against companies in districts and states that Bush desperately needed to win. The hugh and cry was so great Bush gave in. As much as I didn’t like the tariff, which cost me personally, I was embarrassed by the loss of sovereignty.