The US has threatened to slap tariffs on $2bn worth of goods from the UK and five other countries as they argue about how to tax technology companies, a move that risks reigniting transatlantic trade wars unless parties resolve thorny talks over a broader international tax agreement.  

The office of the US trade representative said it was imposing but immediately suspending for six months the tariffs on Austria, India, Italy, Spain, Turkey and the UK as it wrapped up a series of investigations over the way the countries tax US tech giants. 

The announcement comes as wealthy countries are locked in intense negotiations to hammer out an update to the international tax regime. The Biden administration has proposed giving advanced economies powers to raise corporate tax from US tech companies and other large multinationals, while instituting a global minimum corporate tax.