- Kevin Hassett, White House economic advisor, says Trump wants reciprocity in how firms are taxed.
- Hassett says US firms paid $370 billion abroad in taxes, while multinational firms in the US paid $57 billion.
- Trump wants a program that includes trade policy, tariffs, and tax code revisions to create a level playing field.
- Trump sees European VAT taxes as taxes on US companies, not just consumers.
- Hassett mentioned matching US tariffs to those imposed by foreign countries.
- The goal may be to pressure Europe to back off on a digital services tax on US tech companies.
Source: forexlive.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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