U.S. pulls out of OECD talks, will levy tariffs on those imposing digital taxes

The United States is no longer participating in the Organization for Economic Cooperation and Development’s negotiations to establish a new taxing nexus, which were aimed at superseding digital services taxes implemented or under consideration by many U.S. trading partners, U.S. Trade Representative Robert Lighthizer confirmed on Wednesday. The Financial Times reported on Wednesday that Treasury Secretary Steven Mnuchin sent a letter to his European counterparts declaring that the talks were at an impasse and that the negotiations detracted from...