EU: Europe Weighs In On U.S. Tax Reform Debates

As legislators in the United States struggle to develop a workable compromise from two different tax reform plans, leaders across the Atlantic are voicing their disapproval of both versions. On Dec. 12, the finance ministers of Germany, France, Italy, Spain and the United Kingdom sent a letter to U.S. Treasury Secretary Steven Mnuchin in which they expressed their concerns about the contents of both the Senate's and the House of Representatives' bill. The letter articulates that the countries are worried various reform components would break international treaties and undermine trade between Europe and the United States, and in it the ministers threaten retaliation if the reforms come to pass....