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🔔 U.S. Customs and Border Protection has begun reimbursing importers for tariffs imposed under Trump, which were ruled illegal by the court. Out of $160 billion in tariffs, just over $20 billion has been refunded, according to Oxford Economics. Trump previously warned that he would remember those who applied for refunds.
#TRUMP #TariffAlert
🔔 U.S. Customs and Border Protection has begun reimbursing importers for tariffs imposed under Trump, which were ruled illegal by the court. Out of $160 billion in tariffs, just over $20 billion has been refunded, according to Oxford Economics. Trump previously warned that he would remember those who applied for refunds.
#TRUMP #TariffAlert
Trump threatens 100% tariffs on digital services taxes
President Donald Trump announced on Friday that he would impose 100% tariffs on goods from countries that levy taxes on digital services for American companies.
"Many European countries have been discussing the imminent implementation of a Digital Services Tax on U.S. companies," Trump wrote on social media Friday. "I hope this statement serves as a clear warning that any country imposing such a tax will immediately face 100% tariffs on all goods sent to the United States." Trump emphasized that the tariffs would be implemented immediately and would supersede any existing trade agreements with the affected countries. This announcement came a day after the European Union finalized a trade agreement with Washington that caps tariffs at 15% on most of the bloc's exports to the United States.
The Trump administration has opposed digital services taxes, arguing that they would harm major American technology companies, including Alphabet and MetaPlatforms. The United States has previously warned its trading partners, including the European Union, of the possibility of retaliation for such taxes. The administration also called for the resumption of OECD talks on a digital economy tax this year.
Earlier in June, Trump threatened France with a 100% tariff on all champagne and wine if the country maintained its digital tax.
#DonaldTrump #TariffAlert #ChinaEconomy #USEconomics #BTC $MUB $SPCXB $TRUMP
President Donald Trump announced on Friday that he would impose 100% tariffs on goods from countries that levy taxes on digital services for American companies.
"Many European countries have been discussing the imminent implementation of a Digital Services Tax on U.S. companies," Trump wrote on social media Friday. "I hope this statement serves as a clear warning that any country imposing such a tax will immediately face 100% tariffs on all goods sent to the United States." Trump emphasized that the tariffs would be implemented immediately and would supersede any existing trade agreements with the affected countries. This announcement came a day after the European Union finalized a trade agreement with Washington that caps tariffs at 15% on most of the bloc's exports to the United States.
The Trump administration has opposed digital services taxes, arguing that they would harm major American technology companies, including Alphabet and MetaPlatforms. The United States has previously warned its trading partners, including the European Union, of the possibility of retaliation for such taxes. The administration also called for the resumption of OECD talks on a digital economy tax this year.
Earlier in June, Trump threatened France with a 100% tariff on all champagne and wine if the country maintained its digital tax.
#DonaldTrump #TariffAlert #ChinaEconomy #USEconomics #BTC $MUB $SPCXB $TRUMP
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