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EU Extends Olive Branch to Trump Administration, Abandons Digital Tax Plan
Summary: According to sources cited by Jinshi Data, the European Commission has abandoned plans to tax digital companies, marking a significant victory for US President Trump and American tech giants like Apple (AAPL.O) and Meta Platforms (META.O). Documents show that as EU-US trade negotiations enter the final sprint, Brussels has removed the digital tax option from ...
According to sources cited by Jinshi Data, the European Commission has abandoned plans to tax digital companies, marking a significant victory for US President Trump and American tech giants like Apple (AAPL.O) and Meta Platforms (META.O). Documents show that as EU-US trade negotiations enter the final sprint, Brussels has removed the digital tax option from its seven-year financial plan launched in 2028. EU officials are in key negotiations on the budget plan, with only a few days left before the budget is announced. This policy shift is a major change for the EU - in May of this year, the budget document discussed by the EU's 27 commissioners mentioned the idea of repaying EU debts by taxing tech giants. This sudden turn may be a strategic move for the EU. The EU is urgently seeking favorable trade terms with the US, and Trump has previously threatened to impose retaliatory tariffs on Canada in response to its digital tax policy.
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Link: EU Extends Olive Branch to Trump Administration, Abandons Digital Tax Plan [Copy]
