US Treasury Secretary Steven Mnuchin urged Italy and UK to suspend their plans to impose digital taxes. Or “if not they’ll find themselves faced with President Trump’s tariffs.” The warning came after France agreed to delay digital tax imposition through the end of the year, as US and France would work out a permanent resolution.

Mnuchin also said that the phase two trade deal may not be a “big bang” with all existing tariffs removed. Instead, “we may do 2A and some of the tariffs come off. We can do this sequentially along the way.”

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