Schaeuble: Germany Not Worried by US Corporate Tax Reform Plans

German Finance Minister Wolfgang Schaeuble is not worried by the prospect of cuts to corporate tax rates in the United States he told German magazine Wirtschaftswoche on the sidelines of the IMF and World Bank spring meetings in Washington.

U.S. President Donald Trump on Friday promised a big announcement about tax reform shortly and ordered a review of Obama-era tax rules written to discourage U.S. companies from relocating overseas to cut their tax bills.

“U.S. corporate tax rates are among the highest in the world,” the magazine quoted Schaeuble as saying. “If the United States lowers its corporate taxes to European or international levels that won’t bother me a bit. Just the opposite.”

At the same time, Schaeuble said he opposed plans for a systemic change to taxation of companies based on their country of origin and a protectionist border tax favored by U.S. House Speaker Paul Ryan, the magazine

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