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Trump threatens 50% tariffs on EU over digital tax

Source: ft.com

US President-elect Donald Trump promises to impose 50 per cent tariffs on the European Union if it does not drop its digital services tax.
The threat targets France's 3 per cent tax on big tech revenues, which mainly affects US companies like Google and Meta.
Trump aims to protect American tech firms from foreign taxes, escalating trade tensions before his January inauguration.

President-elect Donald Trump has warned the European Union of steep tariffs unless it scraps digital services taxes targeting US tech giants. France, leading the push for these levies, faces the biggest hit from Trump's proposed 50 per cent duties on EU imports. The move revives US complaints about unfair taxation on American firms, potentially sparking a transatlantic trade war as Trump prepares to take office.