The move comes in spite of the Trump administration claiming the tax " unfairly targets American companies ", and warnings that the U.S. could respond with its own tariffs or trade restrictions. Google has since defended its global tax payments and said it supports a new "comprehensive and multilateral agreement" on tax. But OECD said its final stand on digital tax will not come before 2020.
Conservative Mitsotakis has vowed to renegotiate the fiscal targets set by the European Union on Greece's economic trajectory in the next few years. "Commitments commitments. If we break them, reliability is the first thing that breaks down, which leads to a lack of trust and investment, and finally to a lack of growth".
Nonetheless, after the meeting with Chinese President Xi Jinping over the latest G20 summit in the Japanese City of Osaka, Trump had agreed to cancel a tariff hike on all Chinese imports, untouched by trade spat so far, worth of $300 billion, meanwhile, Chinese President had also agreed to purchase some USA agricultural goods.
The loonie took a hit after the Bank of Canada struck a neutral tone and held its interest rate steady at 1.75 per cent, but recovered its momentum by late afternoon to trade above 76.5 cents to the USA dollar. Investors see at least two Fed rate hikes by December. But its tone suggests a cut is more likely than an increase, a shift from earlier this year. Its unemployment rate fell in May to its lowest level since 1976.
In prepared remarks to a congressional committee, Powell said concerns about trade policy and a weak global economy "continue to weigh on the US economic outlook" and the Fed stood ready to "act as appropriate" to sustain a decade-long expansion.
On Monday, President Moon Jae-in urged Japan to withdraw export restrictions that hurt South Korea's semiconductors and display panels industries and called for honest negotiations between the two countries. The export restrictions cover fluorinated polyimides, which are used in organic light-emitting diode (OLED) screens for TVs and smartphones, and photoresist and hydrogen fluoride, used for making semiconductors.