WASHINGTON — An executive for Wal-Mart joined other executives Tuesday in warning a Senate panel that U.S. companies with foreign operations could lose millions and be less competitive globally if Congress isn’t careful in fixing a tax break deemed by the World Trade Organization to be an illegal subsidy.

Lawmakers are under pressure to repeal a tax break for foreign-generated corporate income. If a fix isn’t in place by mid-August, the European Union will be able to retaliate against U.S. exports, including some apparel.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus