Trump’s threat of 100% import tariff on UK ‘not a bluff’, US trade tsar warns
- Donald Trump’s threat of a 100 per cent import tariff on the UK over Britain’s digital services tax on American social media firms is “not a bluff”, a US trade representative has said.
- Back in June, the US president warned of imposing the tariff on European countries, including the UK which taxes companies, such as Google and Apple, with global digital revenues exceeding £500m.
- The two per cent levy is viewed as an important revenue stream for The Treasury, raising £800m in 2024/25, up from £678m in 2023/24.
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- Donald Trump’s threat of a 100 per cent import tariff on the UK over Britain’s digital services tax on American social media firms is “not a bluff”, a US trade representative has said.
- Back in June, the US president warned of imposing the tariff on European countries, including the UK which taxes companies, such as Google and Apple, with global digital revenues exceeding £500m.
- The two per cent levy is viewed as an important revenue stream for The Treasury, raising £800m in 2024/25, up from £678m in 2023/24.
Sources: The Independent