Are Boris and Trump about to bump heads over Big Tech taxes?
If our current situation in France is an indicator, it looks like a yes.
And some have already labeled this the Transatlantic Trade War.
The UK Prime Minister has pledged to push ahead with a tax on large online companies.
When the French moved forward with a similar tax, they were met with a threat of $2.4 billion in tariffs.
That digital services tax was 3%. Amazon quickly retaliated with a 3% seller fee hike.
And it will be awhile before the $443 million it was expected to raise will balance out the new tariffs.
The UK is proposing a tax of 2%. And Facebook, Google and Amazon are in the crosshairs.
When Trump announced the French tariffs, the goods affected were all “quintessentially French.” Wine, cheese, cosmetics, handbags..
What do you see Trump targeting in the UK?
And what will it mean for consumers?
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