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Donald Trump threatens more tariffs and export restrictions on countries taxing US tech giants like Google, Meta, Apple, Amazon.
US Prez Donald Trump warns against Digital taxes on American tax giant by other countries.
US President Donald Trump has pitched another threat of additional tariffs and export restrictions on countries that impose digital taxes or restrictions on American tech giants like Google, Meta, Apple, and Amazon.
In a long post on Truth Social, Trump said, “digital taxes, legislation, rules or regulations are all designed to harm, or discriminate against, American technology.”
Trump said: “As the president of the United States, I will stand up to countries that attack our incredible American tech companies. 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 USA, and institute export restrictions on our highly protected technology and chips.”
Trump also mentioned in his post that they (countries) let pass to China’s largest tech companies.
Trump called out to not treat American tech companies as a money-maker. “America, and American Technology Companies, are neither the “Piggy bank” nor the “doormat” of the World any longer.
What Is A Digital Tax?
A digital tax is a tax that some countries impose on revenues earned by large digital companies (like Google, Meta, Apple, Amazon) from providing online services within their borders.
Since many tech giants are based in the US but earn big revenues from users in other countries, governments argue that these companies should pay taxes where their customers are, not just where they are headquartered.
Trump’s 50% Tariff On India Comes Into Effect From August 27
The United States’ 50 per cent tariff measure on Indian goods has officially taken effect as of 12:01 am EDT (9:31 am IST) today. This includes a second 25 per cent duty added to the earlier 25 per cent hike notified earlier this month. The US Department of Homeland Security has confirmed that the higher rate will apply to any Indian goods “entered for consumption or withdrawn from warehouse for consumption” on or after this time.
The move is the culmination of US President Donald Trump’s ongoing tariff campaign targeting countries that maintain economic ties with Russia, with India being a key buyer of Russian crude. The hike has drawn strong condemnation from New Delhi, while Moscow has backed India’s right to choose its own trade partners.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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