Donald Trump threatened to impose tariffs and export restrictions on countries whose taxes, legislation and regulations target US big tech firms. He said digital taxes, legislation, rules or regulations are designed to harm or discriminate against American technology and claimed such measures give a pass to China's largest tech companies. He warned he would impose substantial additional tariffs on offending countries' exports to the USA and institute export restrictions on protected technology and chips unless the measures were removed. The threat increases pressure on the UK and EU, which have their own regulations and some digital services taxes in place.
In a post on the US president's social media platform, Truth Social, Trump said digital taxes, legislation, rules or regulations are all designed to harm, or discriminate against, American technology. He added that such measures, which includes the UK's digital services tax that raises about 800m annually from global tech companies through a 2% levy on revenues, also outrageously give a complete pass to China's largest tech companies.
US officials have criticised the UK's digital services tax (DST), which has been in place since 2020, although it was kept in place after the deal with the Trump administration that was reached in May. Trump has complained about the impact that DSTs around the world are having on US companies. In February, he issued an executive order titled Defending American Companies and Innovators from Overseas Extortion and Unfair Fines and Penalties threatening tariffs in retaliation.
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