On the first day of his Administration, President Trump signed two Executive Orders (presidential directives to the executive branch, having the force of law) indicating a clear change in direction from the Biden Administration on global tax and trade policy.
The first Order essentially nullifies the US’s agreement with the OECD’s “global tax deal” program.
The second reflects a series of directions to implement “America First Trade Policy”. It includes reference to a retaliatory provision of US tax law, never before used, that, if triggered, could double the tax rate imposed on the US income of companies and individuals of foreign countries whose laws are found to discriminate against US citizens or companies.
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Aliya Ibrayeva
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