Trump threatens additional tariffs on countries imposing digital taxes on US tech companies
The article reports that former President Donald Trump has threatened to impose additional tariffs on countries that enact digital taxes or similar regulations targeting U.S. technology companies.In a post on his social media platform Truth Social, Trump criticized these digital taxes and regulations, especially those from the European Union, arguing that thay unfairly harm American tech firms while giving China an advantage. He warned that unless such measures are removed, the U.S. will respond with substantial tariffs on imports from those countries and export restrictions on high-tech products. The article also mentions a study highlighting the important financial burden EU digital regulations impose on U.S. companies,costing them tens of billions annually.
Trump threatens additional tariffs on countries imposing digital taxes on US tech companies
President Donald Trump threatened to impose additional tariffs on countries that impose digital taxes or similar regulations on United States tech companies.
In a post on Truth Social, Trump denounced digital taxes, digital services legislation, and digital markets regulations against U.S. tech companies. He argued that such moves were designed to harm U.S. tech companies while giving a pass to China.
“This must end, and end NOW! With this TRUTH, I put all Countries with Digital Taxes, Legislation, Rules, or Regulations, on notice that unless these discriminatory actions are removed, I, as President of the United States, will impose substantial additional Tariffs on that Country’s Exports to the U.S.A., and institute Export restrictions on our Highly Protected Technology and Chips,” Trump wrote.
“America, and American Technology Companies, are neither the ‘piggy bank’ nor the ‘doormat’ of the World any longer. Show respect to America and our amazing Tech Companies, or consider the consequences!” he added.
Trump’s ire over tech regulations has mainly focused on the European Union, which has clashed with U.S. tech companies over content moderation, competitiveness, and other issues.
EU REGULATIONS IMPOSE HEAVY COSTS ON US COMPANIES, STUDY FINDS
A study published last month by the Computer and Communications Industry Association Research Center found that EU tech regulations, including digital taxes, cost U.S. companies between $38.9 billion and $97.6 billion annually.
The EU has several laws regulating digital online service providers, the two most prominent being the Digital Markets Act and the Digital Services Act. These regulations became a major sticking point during Trump’s trade negotiations with the EU.
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