European nations have emphasised their desire to agree a deal on a new global corporate tax regime in response to the US’s threat to impose $2bn of tariffs on six countries, ahead of crunch talks on Friday.
Washington announced the levies on Austria, India, Italy, Spain, Turkey and the UK on Wednesday in retaliation for their new digital taxes. But the tariffs will be suspended for six months to leave time for an international agreement to be reached.
The US had already levied but suspended tariffs on France for the same reason.
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