Fears that poorest countries will be worst hit if a trade war erupts due to talks failing
Economies struggling with the costs of Covid-19 could face a double blow from escalating trade wars unless international talks to rewrite cross-border tax rules are successful, the OECD has warned.
The Paris-based organisation, which has been steering the talks, said governments would come under further financial pressure from retaliatory tariffs should governments fail to agree a global tax framework by an extended deadline of mid 2021.
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Originally posted in the guardian.
