WASHINGTON -- The United Kingdom's chancellor of the exchequer yesterday reserved the right to retaliate against U.S. companies in response to any state tax action that imposes a worldwide unitary tax on U.K.-based multinational companies.

In a statement made in the House of Commons, Kenneth Clarke said he is "disappointed" by the Supreme Court's decision yesterday in Barclays Bank v. California, which upholds California's worldwide unitary method of taxation.

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