The Biden administration said Wednesday it will impose new tariffs on the United Kingdom and five other countries in retaliation for their taxes on American tech companies, but the government will not implement the tariffs for six months as it tries to negotiate a resolution to the conflict.
May 19, 2021
WASHINGTON (AFP) – United States (US) Trade Representative (TR) Katherine Tai on Monday voiced her “concern” to Canadian Trade Minister Mary Ng over the prospect of Ottawa imposing taxes on US tech giants.
In its federal budget presented in mid-April, the Canadian government confirmed its intention to tax, from January 2022, the Internet platforms offering services in Canada in the absence of international regulation.
This three per cent digital services tax targets companies with gross revenues exceeding USD900 million in global business. The measure is expected to bring in CAD3.4 billion over five years and will apply until an “acceptable” multilateral agreement replaces it, Ottawa said.
The Biden administration is supporting efforts to do away with IP protection
It means the technology that went into making Pfizer and Moderna vaccines, for example, will become available to all
The idea is that it ll speed up global recovery after COVID-19 and help more countries vaccinate quickly
But Steve Forbes says supply shortages and manufacturing kinks will hamper that
In the meantime, America s economic enemies will have access to the tech
It could deter companies like Pfizer and Moderna from making future vaccines to beat other illnesses
In that sense, Forbes says Biden had already bungled the next pandemic
2021-05-17 16:35:44 GMT2021-05-18 00:35:44(Beijing Time) Xinhua English
WASHINGTON, May 17 (Xinhua) The United States and the European Union will start talks on the steel tariffs imposed during the administration of former President Donald Trump, according to a joint statement released by the U.S. Trade Representative, U.S. Commerce Department and the European Commission on Monday.
During a virtual meeting last week, the leaders from the two sides agreed to chart a path that ends the WTO disputes following the U.S. application of tariffs on imports from the EU under section 232, the statement read.
United States Trade Representative Katherine Tai, U.S. Secretary of Commerce Gina M. Raimondo, and European Commission Executive Vice President Valdis Dombrovskis said in the statement they will start discussions to address global steel and aluminum excess capacity.
This morning in metals news: the United States Trade Representative today announced the US and EU will begin discussions aimed at addressing global steel and aluminum overcapacity; meanwhile, the American Iron and Steel Institute (AISI) and United Steelworkers union issued their own statements on the news; and, lastly, three major miners have launched a competition for innovators to come up with designs for electrified mine truck fleets.
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US, EU to begin talks on global steel, aluminum overcapacity