January 22, 2020 / 10:36 AM / a month ago

Mnuchin flags 'arbitrary' retaliation for UK digital tax

U.S. Treasury Secretary Steven Mnuchin reacts during a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse

DAVOS, Switzerland (Reuters) - The United States would consider “arbitrary” taxes on British car firms if the UK government imposed a digital tax on big U.S. technology firms, Treasury Secretary Steven Mnuchin said.

“International tax issues are very complicated and take a long time to look at. If people want to just arbitrarily put taxes on our digital companies, we’ll consider arbitrarily putting taxes on car companies,” Mnuchin said at the World Economic Forum in Davos, Switzerland on Wednesday.

Speaking alongside Mnuchin, British Finance Minister Sajid Javid said Britain would still go ahead with its digital service tax in April.

Reporting by Balazs Koranyi and Dmitry Zhdannikov; Editing by Alexander Smith

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