US must ‘deal with tax break laws or face sanctions’

THE European Commission yesterday gave the United States an autumn deadline to change disputed tax break laws for major corporations or face the threat of up to $4.0 billion in sanctions.

The long-running row over an export scheme for US majors such as Boeing and Microsoft is one of a series of EU-US trade spats.

It re-emerges days after the two pledged to work together to boost stalled global trade talks.