Trump promotes a tariff-free global digital economy
Kyiv • UNN
US President Donald Trump has enshrined provisions protecting digital trade from taxes in trade agreements with Malaysia, Cambodia, and Thailand. This initiative aims to support American technology companies and maintain global influence in the field of electronic services.
US President Donald Trump, in trade agreements with Malaysia, Cambodia, and Thailand, enshrined provisions protecting digital trade from taxes and discrimination. This refers to online services, social networks, streaming services, and cloud storage that cross borders without additional duties. This is reported by Bloomberg, writes UNN.
Details
The Trump administration believes that our deficit in goods trade was unfairly imposed, but our surplus in services trade was fairly earned, and wants to maintain our services surplus while reducing the goods deficit.
Digital exports grew to over $4.77 trillion last year, almost 10% more than in 2023, and are the fastest-growing segment of global trade. According to experts, the new US provisions aim to support American technology companies and maintain global influence in e-services, while blocking the imposition of tariffs on digital transmissions.
All three Southeast Asian countries have agreed to support the permanent extension of the WTO agreement known as the "moratorium on customs duties on electronic transmissions." This initiative reflects the US desire to maintain an advantage in the rapidly growing digital economy.