US political leaders reacted with anger on Tuesday to an EU decision to hit Apple with a record-breaking €13bn tax penalty, setting the stage for possible US retribution and highlighting the volatile politics around international corporate tax issues.
The US Treasury expressed disappointment at what it called an “unfair” decision by the European Commission to assess taxes retroactively and warned that it could have wider ramifications. “The Commission’s actions could threaten to undermine foreign investment, the business climate in Europe, and the important spirit of economic partnership between the US and the EU,” it said.
The ruling prompted an angry response from members of Congress.
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