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Oh how very 'European' of you! Typical Euro prejudice when it comes to anything British, a very good example I might add as to why we have gone our separate ways. I VERY much doubt that English wine would EVER get a fair 'crack of the whip' from our Euro 'friends' so I think it only wise to trade with people in this world without anti British prejudices. From now on I would rather you didn't call me 'European', I would rather be known as 'Anglo' thank you.
Nevertheless, it is grossly unfair to both companies and individuals to retroactively change rates and then try to claw back the tax. Decisions are made based on applicable law and to change the rules after the event is what you expect from a Banana Republic but not from the EU. Schumer is clearly serving notice that the EU can expect retaliation from the USA if they try to recover this tax money from Apple or from other US corporations with operations in Europe.
And there are political consequences too. For example, the EU might become a whole lot less attractive to Ireland if their low tax regime is taken away from them. Irexit anyone?
At the very least, corporations should become wary of investing in EU countries.
An implication is that the world will tend to become divided into mutually exclusive trade blocs.
Germany have vast trade surpluses in goods and services, whilst the EU will be damaged by no longer having acces to London.
Germany is the 3rd largest exporter, and the 2nd largest exporter of industrial products, ahead of the USA. China is a major market for them, so no they don't need trade deals. They make quality products, and deal or no deal, they will be competitive into the UK, just as they are into the USA.
Germany's success in fact makes the UK look like a whiny little brat.
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