"The US government has put a proposed $42 billion (£31 billion) trade pact with the UK on ice because the European country has yet to budge on its Digital Services Tax (DST). In September, the two English-speaking nations agreed the trade pact - with promised investment from Microsoft, Google, and other tech players - in the hope the UK would see a cash injection funding datacenters and other infrastructure."
"It followed a trade treaty in May - the so-called Economic Prosperity Deal - in which the US wanted to increase food exports to the UK, some of which are currently held back by food safety standards. The US also wanted to see the UK water down online safety rules and DST. According to a report in the New York Times, US officials have become increasingly frustrated with a lack of progress on both fronts and the Tech Prosperity Deal is now on hold."
The US has paused a proposed $42 billion trade pact with the UK because the UK has not rescinded its Digital Services Tax (DST). The initial agreement promised investment from Microsoft, Google and other tech companies to fund datacentres and infrastructure. The alliance included technology-sharing agreements covering AI, quantum computing and nuclear research. The US also sought increased food exports to the UK and changes to online safety rules. US officials report frustration over lack of progress and the Tech Prosperity Deal is now on hold. The UK will continue collecting a 2 percent DST, raising £800 million most recently and targeting higher future revenues.
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