Yellen: US Keeping Tariffs on Table If Countries Don't Remove Digital Services Taxes

The United States is pursuing every avenue to ensure that countries suspend or roll back discriminatory digital services taxes, but will keep tariffs as an option if that does not happen, U.S. Treasury Secretary Janet Yellen said on Wednesday.

Yellen told the Senate Finance Committee she had engaged in "very constructive" bilateral conversations with the Irish finance minister on the issue, and believed the entire European Union would ultimately support an increase in global minimum taxes, as proposed by the United States.

She said she was hoping for progress on the tax issue, which is being negotiated under the leadership of the Organization for Cooperation and Development, by the time the leaders of the Group of 20 major economies meet in October.