US President Donald Trump has threatened to impose a 100% tariff on imports from countries that tax digital services from US companies. In a social media post, he warned that any country imposing such a tax will face “immediate” tariffs on goods sent to the US.
The move could lead to a trade war between the US and European countries, including the 27-member European Union. The EU has defended its taxation of technology companies as “non-discriminatory” and applies equally to all large companies regardless of their origin.
This threat comes ahead of a July 4 deadline for the US and EU to start implementing a tariff deal that caps tariffs on most EU exports at 15%. Digital taxes were not part of the agreement but remain a sticking point between the two sides.
Source: https://apnews.com/article/trump-tariff-europe-d2007fee8ae733a15f240c5f83462c96