EU complains US tax plans could endanger EU-US trade
WATCH President Trump promises tax package 'Christmas gift'
Interested in Taxes?
Add Taxes as an interest to stay up to date on the latest Taxes news, video, and analysis from ABC News. Taxes Add Interest
The European Union's executive branch is warning the United States that its planned tax overhaul could violate some of its international obligations and risks "seriously hampering" trans-Atlantic trade.
In a letter to U.S. Secretary of the Treasury Steven Mnuchin, the EU Commission reinforced a similar move by Germany, France, Britain, Italy and Spain to stress it has serious concerns over several tax initiatives.
EU Commission spokesman Margaritis Schinas said Monday that "the draft U.S. tax bill as it currently stands contains elements that risk seriously hampering trade and investment"
Schinas said EU institutions and nations "believe that it is in the joint EU-U.S. interest to avoid this."
EU nations have been warily eyeing President Trump's domestic tax proposals and fear they might hurt world trade and EU companies in particular.
- Star
Add Interests Customize your news feed by choosing the topics that interest you.
To save your interests across all devices Log In or Sign Up »Source – abcnews.go.com