US opposes taxes on big tech firms

Washington: The United States said on Friday it "firmly opposes" any new tax aimed at big technology firms, in a sharp challenge to a European proposal aimed at American digital titans. "The US firmly opposes proposals by any country to single out digital companies," US Treasury Secretary Steven Mnuchin said. "Some of these companies are among the greatest contributors to US job creation and economic growth." Mnuchin added that US officials "fully support international cooperation to address broader tax challenges arising from the modern economy and to put the international tax system on a more sustainable footing."