The six countries subject to the tariffs, which are set at 25% on about $2 billion worth of goods, include Austria, India, Italy, Spain, Turkey and the United Kingdom. The additional duties will be prevented from taking effect for up to 180 days while the US continues negotiating on a proposed global tax regime through the Organization for Economic Co-operation and Development and the G20 process, USTR said.
Foreign governments have long complained that large tech companies such as Apple, Facebook and Google should pay them more in taxes. Some have recently passed taxes specifically targeting revenue generated by such companies, including those based in the US such as Facebook, Google and Amazon.
The United Kingdom, for example, has imposed a 2% tax on the revenues of social media platforms, search engines and online marketplaces, arguing that because those companies profit from UK-based users, the UK deserves a share of those gains.
The post USTR tariffs: US broadcasts new delayed tariffs in opposition to six international locations in response to taxes concentrating on massive tech corporations appeared first on CaymanMama.com | News.
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