EU to cancel 10% import duty
- Thread starter Nassau65
- Start date
teamzr1
Supporting vendor
Today, President Donald J. Trump has threatened to impose a 100% tariff on countries that levy a digital services tax on United States companies.
Trump also said that existing trade deals would be discarded.
Euronews reported:
“In a social media post, Trump took aim at European countries, he said, that are discussing the ‘imminent’ implementation of taxes on American companies.
The US president has repeatedly sought to use tariffs to deter such taxes, but many countries are seeking revenue as their economies increasingly operate in digital realms dominated by American companies.”
“’Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% tariff on any and all Goods sent to the United States of America’, Trump wrote.
He added that the new tax would supersede any previously negotiated trade deals. Trump said the penalty would apply to any country that moves forward with such a tax, but he singled out European nations in his post.”
Reuters reported:
“Before setting off for the [G7] summit [last week] in France, Trump had warned that the U.S. would “have no choice” but to apply 100% tariffs on French wine unless Paris eliminated its digital tax.
France has applied a 3% levy since 2019 on revenue earned in France from digital services provided by companies with revenue of more than €25 million in the country and €750 million ($854.02 million) worldwide. French lawmakers last year proposed doubling the tax to 6%.
The U.S. Trade Representative’s office has long threatened France, Britain, Austria, Spain and other European countries with retaliatory tariffs if they impose digital services taxes, arguing that these levies discriminate against U.S. companies, which dominate the sector globally.”
Trump also said that existing trade deals would be discarded.
Euronews reported:
“In a social media post, Trump took aim at European countries, he said, that are discussing the ‘imminent’ implementation of taxes on American companies.
The US president has repeatedly sought to use tariffs to deter such taxes, but many countries are seeking revenue as their economies increasingly operate in digital realms dominated by American companies.”
“’Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% tariff on any and all Goods sent to the United States of America’, Trump wrote.
He added that the new tax would supersede any previously negotiated trade deals. Trump said the penalty would apply to any country that moves forward with such a tax, but he singled out European nations in his post.”
Reuters reported:
“Before setting off for the [G7] summit [last week] in France, Trump had warned that the U.S. would “have no choice” but to apply 100% tariffs on French wine unless Paris eliminated its digital tax.
France has applied a 3% levy since 2019 on revenue earned in France from digital services provided by companies with revenue of more than €25 million in the country and €750 million ($854.02 million) worldwide. French lawmakers last year proposed doubling the tax to 6%.
The U.S. Trade Representative’s office has long threatened France, Britain, Austria, Spain and other European countries with retaliatory tariffs if they impose digital services taxes, arguing that these levies discriminate against U.S. companies, which dominate the sector globally.”
Nassau65
CCCUK Member
Hers a quick summary
The 10% duty on American cars into Europe is about to be zero.
On June 25th, the Council of the EU approved the US-EU Turnberry deal that sets EU duties on US built cars to 0%. The law takes effect the day after it lands in the EU's Official Journal, which is expected any day as Trump urges a July 4th deadline.
We built a tool that shows which US-built cars now clear into the EU at 0% duty under this law. Check it out below.
The 10% duty on American cars into Europe is about to be zero.
On June 25th, the Council of the EU approved the US-EU Turnberry deal that sets EU duties on US built cars to 0%. The law takes effect the day after it lands in the EU's Official Journal, which is expected any day as Trump urges a July 4th deadline.
We built a tool that shows which US-built cars now clear into the EU at 0% duty under this law. Check it out below.