European stock markets turn lower on Trump tax doubts

- Agence France-Presse, LONDON

Sep 14, 2017-Europe’s main stock markets dipped on Wednesday on scepticism over US President Donald Trump’s tax plans, dealers said.

Sentiment was subdued despite a record close on Wall Street, as investors digested mixed reactions to Apple’s latest iPhone product launches.

“European markets are trading lower as traders are sceptical about the Trump tax reforms,” said analyst Naeem Aslam at trading firm ThinkMarkets. “Steven Mnuchin, treasury secretary assured markets yesterday that it is still highly likely that some parts of the tax reforms may take place this year.”

Trump hit the road to sell reform of America’s “self-destructive” tax code on Wednesday, a major campaign pledge that remains short on detail and a long way from becoming law.

The president visited Springfield, Missouri, hoping to pull voters and lawmakers behind what described as a “once in a generation” opportunity. 

Advocating a 15 percent corporate tax rate, and a slew of other reforms, Trump insisted “our self-destructive tax code cost millions of jobs, trillions of dollars, and billions of hours spent on compliance and paper work.”

Published: 14-09-2017 07:02

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