Trump warns of fresh tariffs, says US not ‘piggy bank’ of the world

He warned that America would also “institute Export restrictions on our Highly Protected Technology and Chips.”

“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 USA,” Trump said.

“America, and American Technology Companies, are neither the ‘piggy bank’ nor the ‘doormat’ of the World any longer. Show respect to America and our amazing Tech Companies or, consider the consequences!”

As per news agency, Reuters, many countries, especially in Europe, have imposed taxes on the revenues of digital service providers such as Google, Meta, Apple, and Amazon — a sticking point that has long strained trade relations with successive US administrations.

The warning comes a week after Washington and Brussels pledged to “address unjustified trade barriers” and agreed not to impose customs duties on electronic transmissions. The EU also confirmed it would not adopt network usage fees.

Digital taxes have emerged as a flashpoint in the Trump administration’s trade talks, with the US last month cutting off negotiations with Canada over the issue.