1 hour ago
Donald Trump threatened a 100% tariff connected European countries that enforce a digital services tax, arsenic nan president erstwhile again came to nan defense of American tech giants that person opposed nan levies.
It wasn’t instantly clear nether what authority Trump would enforce nan tariff, fixed nan Supreme Court determination earlier this twelvemonth that struck down his sweeping world tariffs, nan instauration of his economical agenda.
Trump posted connected Truth Social connected Friday, “Numerous European Countries person been discussing nan imminent implementation of a Digital Services Tax connected American Companies. Some of these Countries are adjacent to really doing this. Please fto this connection service to correspond that immoderate Country that imposes specified a Tax will instantly beryllium met pinch a 100% TARIFF connected immoderate and each Goods sent to nan United States of America. This TARIFF will supersede Trade Deals made pinch nan Country, whether implemented, signed, aliases not. Additionally, nan 100% TARIFF will beryllium instantly imposed, if they proceed. Thank you for your attraction to this matter. President DONALD J. TRUMP”
According to nan Tax Foundation, astir half of each European Organization for Economic Cooperation and Development countries “have either announced, proposed, aliases implemented a DST.”
Trump had group a July 4 deadline for nan European Union and nan United States to put into effect a waste and acquisition woody that caps European imports astatine a 15% tariff, but integer taxes were not portion of nan agreement, per nan AP.
Last year, Trump threatened to trim disconnected waste and acquisition talks and a caller tariff pinch Canada arsenic it looked to instrumentality a integer services tax. That 3% taxation was repealed earlier this year.
