US President Donald Trump addressed the World Economic Forum in Davos remotely, delivering a stern warning to Britain and other major economies regarding taxes on American tech giants and multinational companies.
Trump’s speech highlighted the potential reprisals these countries could face as a result of these taxes, emphasizing the need for fair and equitable treatment of US businesses operating abroad.
The UK, in alignment with the US, has committed to a global minimum corporate tax rate of 15 per cent, with measures in place to ensure that companies pay their fair share to HMRC on UK profits. The Office for Budget Responsibility estimates that these measures could generate £2.8 billion annually by the end of the current parliament.
However, Trump’s withdrawal of US support for the international tax agreement has raised doubts about the future of the pact, posing a potential challenge for Britain’s public finances.
The President’s address at Davos sparked discussions about the implications of these tax policies on global economic relations, with a focus on finding a balance between promoting economic growth and ensuring fair taxation practices.
As world leaders continue to navigate these complex issues, the outcomes of these discussions will undoubtedly shape the future of international business and financial policies.
Watch the video by The Times and The Sunday Times
Video “LIVE: Donald Trump addresses World Economic Forum in Davos” was uploaded on 01/23/2025 to Youtube Channel The Times and The Sunday Times