US Moves Forward on $ 1 Billion Fee Plan on Digital Taxes

Photographer: Bing Guan / Bloomberg

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The United States is pushing ahead with plans to attack six nations that tax Internet-based businesses with retaliatory tariffs that could total nearly $ 1 billion annually.

Products entering the US, ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies, could face tariffs of up to 25% annually. documents released by the US Trade Representative Fair The tariffs are in response to countries that are imposing taxes on internationally operating technology companies, such as Inc. and Facebook Inc.

In each of the six cases, the USTR proposes to impose tariffs that would roughly total the amount of tax revenue each country is expected to derive from US companies. The cumulative annual value of the tariffs is $ 880 million, according to calculations by Bloomberg News.

Retaliation fees

The United States proposes tariffs on hundreds of millions of dollars in imports.

Source: US Trade Representative.

Efforts have been made to replace each individual country’s digital taxes with a global standard, to be negotiated by the Organization for Economic Cooperation and Development, but no agreement has yet been reached.


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