Reacting to the news of the multi-lateral deal, William Bain, Head of Trade Policy at the BCC, said:

“The announcement of a deal between the US, the UK, France, Austria, Italy and Spain on digital services taxes, and transitioning unilateral measures taken beforehand, will be strongly welcomed by business in the UK.

“UK exporters were facing punitive tariffs, on many consumer products going to the US, in just six weeks’ time. It will be a great relief that this has now been removed completely until at least the end of December 2023 or when the relevant part of the global deal on DSTs comes into effect.

“The BCC engaged with the US Embassy and the UK Government over this. UK exporters will now be able to look forward to a bumper Christmas season selling their goods to US customers.”