Cash-strapped governments are leaning toward a new regulatory regime in the wake of pandemic relief efforts.
The Organisation for Economic Cooperation and Development(OECD) is developing rules to make digital companies pay tax where they do business, rather than where they register subsidiaries.
A report from the US Trade Representative's office found the tax penalises American tech companies like Google, Apple, Facebook and Amazon.
A new study has found that hundreds of billions of dollars in corporate profits land in low-tax jurisdiction territories despite an international crackdown.
China imposed additional tariffs on some of the US goods on a $75-billion target list while the Trump administration's latest round of tariffs on Chinese imports has taken effect early Sunday.
US President Donald Trump says he would be raising planned tariffs on $300 billion in Chinese goods from 10 percent to 15 percent.
Also boosting investor sentiments were comments from China that the Washington and Beijing held discussions on trade overnight and would talk again the next two weeks.
US President Donald Trump and Chinese President Xi Jinping agreed at last month’s G20 summit in Osaka to restart trade talks that stalled in May.
The decision comes two months after US President Donald Trump agreed to lift tariffs on steel and aluminum from Mexico and Canada after the three nations agreed on a revised North American free trade pact.
The new duties take effect from Sunday, a government notification said, in the latest trade row since US President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit.
Duties levied on aforementioned US products will be reduced from $521.2 million to $260.6 million, trade minister Ruhsar Pekcan says.
Sending Wall Street into a slide, China announced higher tariffs on $60 billion worth of American goods in retaliation for President Donald Trump's latest penalties on Chinese products. Earlier, stocks also fell in Europe and Asia.
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