If you're starting to get a sense of déjà vu over Trump tariff headlines, you're not alone.
For the second time this month, President Donald Trump has threatened a 100 percent tariff on European goods to pressure foreign nations to back off on digital service taxes imposed on American tech companies operating overseas.
Trump posted the threat to Truth Social, writing:
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“Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies. Some of these Countries are close to actually doing this. 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. This TARIFF will supersede Trade Deals made with the Country, whether implemented, signed, or not. Additionally, the 100% TARIFF will be immediately imposed, if they proceed. Thank you for your attention to this matter. President DONALD J. TRUMP.”
Earlier this month, the President specifically threatened to impose tariffs on French wine imports unless the country dropped a standing 3 percent levy on local revenue generated by tech companies like Apple and Google. Trump reportedly delivered the threat directly to outgoing French President Emmanuel Macron before the international G7 summit.
So far, only Canada has caved to Trump's ongoing digital service tariff tactic, dropping their levy last year. But the Trump administration has since lost some strength in the global arena, experts say, following the U.S. Supreme Court's decision to curb Trump's power to issue reciprocal tariffs.