Trump Threatens Export Curbs, Tariffs In Digital Tax Retaliation

US President Donald Trump threatened additional tariffs and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies.

“Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology,” Trump posted on social media. “They also, outrageously, give a complete pass to China’s largest Tech Companies. This must end, and end NOW!”

The warning comes a week after the US and the European Union agreed in a joint statement that they would together “address unjustified trade barriers,” and would “not impose customs duties on electronic transmissions.” The 27-member bloc also confirmed it wouldn’t adopt network usage fees.

“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,” Trump posted.