President Trump threatened substantial additional tariffs and export restrictions on nations that implement digital taxes, digital services legislation, or digital markets regulations targeting American technology companies. The threat framed American tech firms as victims of discriminatory policies and warned that China’s largest tech companies receive a pass from such rules. He promised tariffs and limits on highly protected technology and chips if regulations persist. The threats omitted that many U.S. tech companies are highly profitable, use legal tax-minimization strategies, and that the United States withdrew from OECD tax reforms. The threats also omitted documented monopolistic practices and harmful services from several firms.
"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," he added. "This must end, and NOW!" his post continued, before promising "substantial additional Tariffs" on any nation that dares to persist with regulations, plus "Export restrictions on our Highly Protected Technology and Chips."
Most are extraordinarily profitable; Most use legal-but-cynical schemes to minimize tax, which is why many nations devised digital services taxes and other measures to ensure Big Tech pays its share; The USA pulled out of the OECD's comprehensive tax reforms, which aimed to prevent global companies - especially tech companies - from using legal-but-cynical schemes to minimize tax. Doing so meant other nations who wanted to tax Big Tech needed to consider other measures;
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