European Leaders Claim U.S. Corporate Tax Reform Presents Unfair Global Trade Advantage…
Excerpt: If there is anyone who didn’t quite understand the quote: “there are trillions of dollars at stake”, in the context of the 2016 election, well, a letter today from the biggest EU economic nations will provide greater context. Additionally, as you absorb the position behind their claims, never forget how much foreign governments spend in lobbying the U.S. congress for legislation adverse to the interests of U.S. workers. Britain, France, Germany, Italy and Spain are claiming the U.S. congress has no right to reform the U.S. tax code because the reforms undercut their ability to hold an advantage over the U.S. in multinational trade deals. This quote is particularly enlightening: […] The letter argues that proposed changes to the U.S. tax code could give American companies an advantage over foreign rivals.
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