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Europe Risks Trade Showdown by Defying U.S. on Digital Taxes (1)

June 18, 2020, 12:50 PM

Transatlantic trade tensions are at risk of boiling over with several European countries vowing to move ahead with plans to tax tech companies operating within their borders in spite of a U.S. threat to retaliate with tariffs.

The U.S. said on Wednesday that it would withdraw from a long-running effort at the Organisation for Economic Cooperation and Development to develop a global tax, and has threatened retaliatory tariffs against any nations that impose levies on the digital revenue of American companies.

Read More: Why ‘Digital Taxes’ Are the New Trade War Flashpoint: QuickTake

Spain, Italy, France and the U.K. are ...