The decision by US president Donald Trump to pull the United States out of a landmark global corporate tax deal is regrettable, the European Union’s (EU) economy commissioner has said.
In one of a series of sweeping executive orders signed after his inauguration, Mr Trump said the US would be withdrawing from a global deal that aimed to make companies pay a minimum corporate tax rate of 15 per cent.
Mr Trump also announced plans to retaliate against countries applying “extraterritorial” levies on US multinational firms, in a further sign the US president intends to seek to rewrite global tax regimes to favour US companies.
Ireland signed up to the Organisation for Economic…