The United States is set to impose retaliatory tariffs on six countries but will delay this for six months to pave the way for negotiations, according to the WSJ.
- The U.S. is looking to implement tariffs on the United Kingdom, Austria, India, Italy, Spain, and Turkey.
- Trade Representative Katherine Tai defended the tariffs as she said these were due to the digital services taxes imposed by the countries on American companies.
- Among the companies most hit by digital services taxes are giants Alphabet Inc.’s Google, Apple Inc., Facebook Inc., and Amazon.com Inc.
- Tai noted that any tariffs will be suspended as parties seek a “multilateral solution” to the issues stemming from international taxation.
- The official said the United States is planning to push negotiations through the Group of 20 economic powers, along with other international groups.
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