Tax Tiff It brings the effective (total) tax rate on U.S. companies down to Europe’s average effective rate, but the Wall Street Journal notes that the latter is skewed by lower rates in the EU’s small economies. This means that new U.S. corporate tax law is a major competitive challenge to countries like Germany. The Nikkei points out the same implications in Asia where corporate tax rates will now be higher in South Korea, China and elsewhere. Meanwhile, the South Korean Parliament is expected to vote next week to boost the tax rate on high-earning companies even further. Foreign firms with U.S. operations will also benefit from the reduced American taxes.   Castrating Animal Welfare Like the U.S., the EU has struggle...

TAGS – Livestock, Asia, Europe, North America