Hey there! Did you hear the news? Former U.S. President Donald Trump said he plans to put new taxes, called tariffs, on countries that charge special taxes on American tech companies like Google, Amazon, and Apple. 📱💻
But what’s this all about?
Some countries have started to collect something called a digital tax. This means they charge money on services provided over the internet by big tech companies. They do this because these companies make a lot of money in their countries but don’t always pay a lot of taxes there.
For example, countries like France and Canada collect over $500 million each year from these taxes! That’s a lot of money. 💰
Trump thinks this isn’t fair to American companies. He believes only the United States should tax its own companies. So, he wants to put tariffs on those countries as a way to even things out.
This isn’t the first time this issue has come up. A few years ago, the United States and other countries tried to work out a deal through a group called the Organization for Economic Cooperation and Development (that’s a big group of countries that work together on economic issues, also known as the OECD). 🌍
But now, Trump has decided that the United States shouldn’t be part of that agreement anymore.
What does this mean? Well, if countries start putting more taxes on each other’s goods and services, it can make things more expensive. That could affect the prices of things we buy or the way companies do business around the world.
It’s a pretty big deal, and many people will be watching to see what happens next!
Reference(s):
cgtn.com
