AFL-CIO, the American labor union, has asked Nike to disclose a formal set of tax principles to which it is committed following the disclosures in the Paradise Papers of the tax loopholes used by the company and other multi-nationals (see our previous issue). AFL-CIO, which is also a shareholder in Nike with an investment of about $21 million, suggests that Nike should consider the impact of its tax strategies on local economies and their “reputational consequences.”