Trump threatens new tariffs over digital taxes against US companies

US President Donald Trump has threatened new trade measures in response to digital services taxes that several countries have imposed on American technology companies. He said that such taxes "discriminate against American technology" while "giving a hand to the largest Chinese companies," Bloomberg reports.

Trump stressed that if the taxes are not repealed, he, as president, will impose additional tariffs on these countries' exports to the United States and limit the supply of American advanced technologies and semiconductors.

The announcement creates new uncertainty for U.S. trading partners. Trump has already imposed new tariffs on dozens of countries this month alone. He has long argued that digital taxes are unfair to American giants Amazon, Alphabet (Google) and Meta.

The US is already actively applying export restrictions on chips and technologies, including NVIDIA products, which are considered critical to national security.

His statement came after a joint declaration by the US and the EU, where the parties agreed not to impose tariffs on electronic transactions and to counteract "unjustified trade barriers." However, the European Union clarified that it is not going to change its own digital laws - the Digital Markets Act and the Digital Services Act.

Earlier this summer, Canada abandoned its digital tax, while the United Kingdom retained its 2% levy on internet platform revenues.