Before this is spun to death, just for the record -- that corporate tax bill has been in the works for four years.

The catalyst for it was when the current subsidy setup for US manufacturers was found illegal, so the EU started penalizing US imports with tarrifs. This is not like something just whipped up in the last month or two.

(today's WSJ reports that the EU repealed the tariffs on Monday)

This is actually an interesting effect we are starting to see from these international trade agreements.

Countries have to discontinue their old practices of subsidies to farmers, businesses etc. Instead they are going to have to look at tax policy as ways to potentialy help an industry, which is what happened here.

Steve