In a Truth Social post, President Donald Trump announced plans to impose “substantial” new tariffs and limit U.S. chip exports as a response to digital service taxes implemented by other countries, which he claims unfairly target American tech companies.
President Trump wrote: “As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. 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.”
“This must end, and end NOW! With this TRUTH, I put all Countries with Digital Taxes, Legislation, Rules, or Regulations, on notice that unless these discriminatory actions are removed, I, as President of the United States, will impose substantial additional Tariffs on that Country’s Exports to the U.S.A., and institute Export restrictions on our Highly Protected Technology and Chips. America, and American Technology Companies, are neither the “piggy bank” nor the “doormat” of the World any longer. Show respect to America and our amazing Tech Companies or, consider the consequences! Thank you for your attention to this matter.”
Trump’s threat comes after a sustained effort to pressure U.S. trade partners into eliminating taxes aimed at the world’s largest and most established tech companies, including American giants like Meta, Alphabet, and Amazon.
Countries that implement digital services taxes contend that major tech giants like Amazon operate domestically and earn substantial profits from their citizens, while contributing little or no taxes to the government.
Today, President Trump also confirmed that the 15% tariff on imports from South Korea will remain in place after discussions with President Lee Jae Myung, who visited the White House.
By CEO NA Editorial Staff