Donald Trump pulls out of global corporate tax agreement, threatens retaliatory measures
Donald Trump's decision to withdraw from a global minimum tax agreement on his first day in office has unnerved EU officials, who expressed «regret» over the move.
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Trump signed a flurry of executive orders within hours of taking the oath of office on Monday, pulling the United States out of the Paris Climate Accords and the World Health Organisation (WHO), and undoing many of his predecessor's policies.
Among them was a measure pulling the United States out of the Organization for Economic Co-operation and Development's (OECD) global tax deal, signed by close to 140 countries, which levied a 15 percent minimum tax on corporate profits.
The executive order also requires officials to «investigate» whether countries had or planned to implement rules «that are extraterritorial or disproportionately affect American companies,» and to draw up recommendations for retaliatory measures within 60 days.
EU economy commissioner Valdis Dombrovskis expressed «regret» over the move during a press conference in Brussels on Tuesday, adding that the EU remained «committed» to its international obligations.
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