Web Analytics
Cryptopolitan
2025-02-22 05:35:21

Trump revives tariff probe over foreign digital taxes on US Tech

President Trump ordered the Office of the US Trade Representative (USTR) to propose import tariffs on countries that levy digital taxes on US tech companies. According to a White House fact sheet, Trump wants the US Trade Representative office to reopen investigations initiated during his first term into countries that impose digital service taxes ( DSTs) to discriminate against US companies. With this move, he hopes to discourage foreign governments from taxing major US tech corporations like Alphabet and Meta. Trump even commented, “What they’re doing to us in other countries is terrible with digital.” Trump’s administration imposed tariffs on countries with DSTs in 2019, during his first term. When asked to give more details on Trump’s plans, a white house official stated that the president will not have other countries “appropriate America’s tax base” for their own gains. This is not Trump’s first time raising concerns about foreign government taxation policies. In 2019, the USTR investigated the tax systems of France, Italy, India, Spain, and other countries under Trump’s orders. It concluded then that their digital service taxes were discriminatory and harmed American tech firms. Thus, the office launched Section 301 unfair trade practices against these countries, necessitating tariffs on some imports. Since then, some countries opted to pull back their tax plans and even settled for international talks on reduced taxes on tech firms. However, there’s not really been much progress from their discussions. Currently, France, Turkey, Spain, Britain, Italy, India, Canada, and Austria have all imposed taxes on US tech sales revenues. Moreover, the Computer and Communications Industry Association estimates that roughly 30 countries have levied DSTs in the last few years, with Canada imposing them in 2024. Trump’s plans to counter DSTs could escalate tensions between the US and Europe France’s finance minister, Eric Lombard, has insisted that they will not withdraw their digital service taxes on US tech multinationals. In an interview with Bloomberg, he stated, “It’s not changing.” arguing that their tax policy is not a negotiating tool. He also argued that taxes are a question of sovereignty and that every nation has its policies, hoping that their stance would not result in a conflict with the US government. The European nation was actually one of the first to implement DSTs, and they had previously started negotiations with the US to reverse some of its tax plans. However, the two countries never completed their negotiations, and France’s taxes are still hitting hard American tech corporations. With the Trump administration considering retaliatory measures against France and other European nations, tensions could escalate—especially since most of Europe opposes Trump’s decision to negotiate a truce directly with Russian President Vladimir Putin over the Ukraine war. Aside from the digital service tax issue, the Trump administration wants to check whether any European Union or UK practices incentivize US companies to develop products that undermine free speech. Trump and Vice President JD Vance have spoken over some of European regulations that they claim have stifled conservative voices. Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet

Crypto 뉴스 레터 받기
면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.