International Tax

EU finance ministers fire a warning on U.S. tax plan

BRUSSELS – The European Union’s top five economies are warning the U.S. that its massive tax overhaul could violate some of its international obligations and risks having “a major distortive impact” on trade.

In a letter to U.S. Secretary of the Treasury Steven Mnuchin, the finance ministers of Germany, France, Britain, Italy and Spain wrote they had “significant concerns” about three tax initiatives in particular.

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