France, Germany hasten harmonisation

BERLIN, Mar 4 (Reuters): Germany and France will bring forward plans to introduce a common corporation tax system in response to tax cuts announced by the Trump administration, Chancellor Angela Merkel said.

The announcement comes amid unprecedented tensions between the US under President Donald Trump and its long-standing European allies over Washington's planned introduction of steel tariffs that Europe fears will distort global trade.

"We have decided, with more emphasis than in the past, to push on with the 'Common Corporation Tax with France' project," Merkel said in her regular weekend video podcast when asked how Germany's relative competitiveness could be maintained.