Trump threatens 100% tariff on nations taxing US tech giants, warns trade deals won't matter

US President Donald Trump has issued a stern warning, threatening a hefty 100% tariff on all goods from nations implementing digital services taxes that target American firms. He declared that such a move would immediately trigger trade retaliati...

AP
US President Donald Trump
US President Donald Trump on Friday threatened to impose a 100% tariff on all goods imported into the United States from any country that introduces a digital services tax (DST) targeting American companies, warning that the measure would override any existing or future trade agreement with that country.

In a post on Truth Social, Trump said countries moving ahead with such taxes would face immediate trade retaliation from the United States.

Also read: India-US trade deal enters crucial phase as Section 301 and tariff deadline loom large


"Any Country that imposes such a Tax will immediately be met with a 100% TARIFF on any and all Goods sent to the United States of America," Trump wrote.

The US president further declared that the tariff "will supersede Trade Deals made with the Country, whether implemented, signed, or not," indicating that existing agreements would not shield countries from the proposed penalties.

Trump's warning appeared to be aimed primarily at several European nations, which he said were discussing the imminent implementation of digital services taxes on American technology companies.

ADVERTISEMENT
"Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies. Some of these Countries are close to actually doing this," he said.

Also read: US trade court rules Trump's 10% global tariffs illegal, but issues narrow block

He added that the tariffs would take effect immediately if those countries proceeded with the tax.

"Additionally, the 100% TARIFF will be immediately imposed, if they proceed," Trump said.

Digital services taxes are levies imposed by some governments on revenues earned by large technology companies from online services such as digital advertising, marketplaces and user data. The taxes have long been opposed by Washington, which argues they disproportionately target US-based technology giants.
ADVERTISEMENT
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › International › Global Trends › Trump threatens 100% tariff on nations taxing US tech giants, warns trade deals won't matter
Text Size:AAA
Success
This article has been saved

*

+