Philip Hammond has already come under attack from cabinet colleagues who favour a hard Brexit that puts Britain outside the EU regulatory arena Getty ImagesPhilip Hammond has joined other EU treasury ministers in warning President Trump about tax plans that they say would breach international agreements and hammer the City of London. In a letter they express “significant concerns” that the Trump administration’s tax plans would have a “major distortive impact on international trade”. Mr Hammond’s signature may be controversial as he has already come under attack from cabinet colleagues who favour a hard Brexit that puts Britain outside the single market and free of the EU regulatory arena. Mr Trump has raised the prospect of striking a “big, beautiful trade deal” with the UK, which Brexiteers hailed as a dividend of leaving the EU. The letter, to Steve Mnuchin, the US Treasury secretary, says that while tax policy…

Source: The Times December 12, 2017 00:00 UTC