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22nd Sep 2023

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Senior EU finance ministers come out against US tax reform

Finance ministers from Germany, France, the UK, Italy and Spain on Monday called on the US to amend a tax reform bill, which they say would have a "major distortive impact on international trade." In a letter to US treasury secretary Steven Mnuchin, they said that a planned 20-percent excise tax on some foreign-affiliated companies would "discriminate in a manner that would be at odds with international rules".

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