Mr. Trump wants to retaliate against the countries that apply a large tariff of American technology

The US president wants to impose import taxes with countries that apply digital service to major technology companies such as Google, Facebook, Apple or Amazon.

On February 21, US President Donald Trump signed a memorandum of understanding to ask the US Trade Representative Office to re -investigate the number of service tax surveys he initiated in his first term. The purpose is to investigate whether countries whether they use this tax to “discriminate against American businesses”.

A White House official said Mr. Trump directed officials to consider response measures, such as import tax, “to deal with digital service tax, fine and policies that foreign government applied to American business “.

For a long time, the digital service tax that countries applied to American technology such as Google, Facebook, Apple or Amazon has made Washington unhappy. England, France, Italy, Spain, Turkey, India, Austria and Canada have all imposed tax on the revenue of multinational technology companies that are operating here.

“What they do to us is terrible,” Trump said to the press on February 21.

 

Major technology companies are being imposed by many digital service taxes. Image: Reuters

Reuters Yesterday also quoted close sources that the European Union (EU) would probably punish Google for violating the Digital Market Act. Accordingly, the proposals for changing in displaying the company’s search results have not yet resolved concerns about the monopoly of competitors and EU officials.

During Mr. Trump’s first term, the US Trade Representative Office opened an investigation with some countries, concluding that these countries discriminate against US businesses, thereby paving the way for import tax imposition. retaliation.

Last week, the US President also recalled the imposition of import taxes to Canada and France for digital service tax. The White House data shows that the two countries earn 500 million USD each year.

In 2021, after Mr. Trump opened an investigation of digital service tax, the US trade representative at that time, Katherine, has imposed a 25% tax with more than 2 billion USD of imported goods from 6 countries. But after that, the US postponed the application of this tax to continue negotiating the minimum tax agreement globally.

The agreement was agreed in October 2021 by nearly 140 countries, including major economies like the EU, China and India. It allows countries where products or services are consumed to tax on large multinational companies, even if they are not present directly.

The scope of application are companies with a turnover of 750 million euros or more, with a minimum of 15% globally. The European Union, England and many other countries have applied. However, the US Congress has never passed measures for this country to comply with the agreement.

On January 20, Mr. Trump decided to withdraw the US from this agreement. He declared a minimum tax of 15% “not effective in the US” and asked the Ministry of Finance to prepare “protection policies” of these enterprises.

By Editor

One thought on “Mr. Trump wants to retaliate against the countries that apply a large tariff of American technology”

Leave a Reply