Mnuchin opposes EU tax plan that would "single out" digital firms
Treasury Secretary Steve Mnuchin. Photo: Tom Williams/CQ Roll Call
Treasury Secretary Steve Mnuchin threw cold water on an EU proposal to tax the revenue of large American tech companies in a statement to Politico on Friday:
"The U.S. firmly opposes proposals by any country to single out digital companies."
Go deeper: More on the EU plan to impose a tax on the digital revenues, rather than profits, of companies like Amazon, Facebook and Google with significant operations abroad. It comes up for a vote before the European Commission next week.