Tariffs Reacting to DSTs Still on Pause
The Office of the U.S. Trade Representative said it's extending the deadline for an international corporate income tax deal, and is extending its pause on retaliatory tariffs on countries that have passed or were considering passing digital services taxes against American firms.
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The agency said the representatives hashing out the tax agreement intend to hold a signing ceremony by the end of June, so the pause on tariffs is now through June 30.
In 2021, USTR had said it would delay imposing additional 25% tariffs on 67 tariff lines from the U.K., 44 from Italy, 27 from Spain, 32 from Turkey, 26 from India and 23 from Austria (see 2106020047) while negotiations continued.