President Trump threatened to impose additional tariffs on countries that refuse to remove digital regulations against U.S. tech companies.
“As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology. They also, outrageously, give a complete pass to China’s largest Tech Companies,” Trump wrote on Truth Social. “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.”
He declared that “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! Thank you for your attention to this matter.”
Trump’s statement comes as the United States and the European Union outlined a guideline for “fair, balanced, and mutually beneficial trade and investment.”
“The United States and the European Union intend this Framework Agreement to be a first step in a process that can be further expanded over time to cover additional areas and continue to improve market access and increase their trade and investment relationship,” a joint statement read.
Canada dropped its digital services tax on the United States in June. The tax, implemented in 2020, sought to “address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians,” according to a government news release.
