US President Donald Trump has warned that digital taxing countries on American technology companies will face the “additional fee” on their exports, until these measures are withdrawn. In a long post on his Truth social platform, Trump said that these policies improperly target alphabet’s Google, Meta’s Facebook, Apple and Amazon, while Chinese technical giants are exempted.
Also read this: Sachin Tendulkar replied to the question of Arjun Tendulkar’s engagement with Sania, Master Blaster also said about daughter Sara
He wrote, “As President of America, I will stand against countries that attack our amazing American technology companies.” “Digital tax, digital service law and digital market regulation, are all designed to damage or discriminate with American technology. They abusively give full exemption to China’s largest technical companies. All this should end, and should be over!”
Also read this: Trump’s brain is ripening something big? What will US President do by meeting North Korea dictator Kim Jong Un
The President further said that until these countries withdraw such laws, they would “significantly” on their products and “export restrictions” on American technology and chips.
Trump said, “America and American technical companies are neither ‘gullak’ nor ‘threshold’ for the world. Respect America and our amazing technology companies, otherwise it will have to bear the consequences!”
Many countries, especially in Europe, have taxed the revenue earned by large digital service providers. The issue has been a problem in trade relations over the years, and both Trump and Biden argue that these fees only apply to American companies.
Trump had earlier threatened to impose fees on France and Canada for digital service taxes. The US also implemented extensive export control on sensitive technologies such as advanced semicondia corpus, including chip giant Nvidia Corp.
This new warning came only a few days after Trump’s announcement to impose duty on imported furniture and increase the duty on dozens of other products.
This came last week after a joint statement between Washington and the European Union that resolved to “remove unfair trade obstacles” and to avoid levying fees on electronic broadcasting. At that time the European Union confirmed that it would not impose network use fees.
This new trading threat of President Obama has resulted in re -uncertainty in global markets and may increase tension with prominent American colleagues.
Meanwhile, the Wall Street Journal quoted sources as saying that Beijing’s leading negotiator Lifeng’s top ally Lee Chenggang would meet US trade representative Jamison Greer and senior officials of the finance ministry later this week.
According to the WSJ report, Li will discuss the purchase of soybean and urge the US to relax the restrictions on technology exports to China.