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Does Trump’s Tax Overhaul Violate Global Trade Rules? Europe Thinks So

(Ivana Kottasová – CNN)

Congress is poised to approve a tax overhaul that could spark major trade tensions between the United States and Europe.

The final version of the bill, which is expected to be approved by lawmakers this week, includes two provisions that European allies have lobbied against, and are likely to challenge in court.

The finance ministers of Germany, France, Britain, Spain and Italy sent a letter to Treasury Sec. Steven Mnuchin last week, arguing the rule changes would give American firms an unfair advantage over their international rivals.

Top European Commission officials asked for both measures to be removed from the final bill in a second letter to Mnuchin. Click here to read more.