Trump threatens with more tariffs and export curbs on nations with digital taxes

U.S. President Donald Trump on Monday threatened to “impose substantial additional Tariffs” and "impose export restrictions on selling tech and chips" to countries with digital taxes.

Many countries, particularly in Europe, have implemented DSTs targeting U.S. tech giants as DST levies tax on gross revenue rather than net profits, disproportionately burdening firms like Apple (APPL), Alphabet (NASDAQ:GOOG [https://seekingalpha.com/symbol/GOOG]), Amazon (NASDAQ:AMZN [https://seekingalpha.com/symbol/AMZN]) and Meta Platforms (NASDAQ:META [https://seekingalpha.com/symbol/META]). Trump views this taxes as discriminately as it gave a complete pass to Chinese tax firms.
[Source: Truth Social]
Source: Truth Social

In June, Canada had rolled back its new digital services tax, after United States President Donald Trump called off trade talks in retaliation for the levy and threatened to impose additional tariffs on exports from Ottawa.

Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion [https://seekingalpha.com/article/4802982-politics-and-the-markets-082625].

MORE ON RELATED TICKERS

* Apple: An Inflection Point May Have Arrived (Rating Upgrade) [https://seekingalpha.com/article/4816574-apple-an-inflection-point-may-have-arrived-upgrade]
* Apple: The Generative AI Threat Becomes A Pixel [https://seekingalpha.com/article/4816570-apple-the-generative-ai-threat-becomes-a-pixel]
* Alphabet's Gemini Is Apple's Saving Grace: Who's The Bigger Winner? [https://seekingalpha.com/article/4816553-alphabet-gemini-apples-saving-grace-whos-the-bigger-winner]
* Elon Musk’s companies sue Apple,OpenAI alleging anticompetitive scheme [https://seekingalpha.com/news/4488844-elon-musks-companies-sue-appleopenai-alleging-anticompetitive-scheme]
* Meta Platforms predicted to become the next company to reach $4T in market cap [https://seekingalpha.com/news/4488845-meta-platforms-predicted-to-become-the-next-company-to-reach-4t-in-market-cap]