POTUS Fights Back: No More Foreign Fines on American Innovators
Published Date: 2/26/2025
Presidential Document
Summary
American tech companies are facing unfair taxes and rules from foreign governments that cost them billions and hurt their growth. The President’s new plan stops these overseas extortion tactics by fighting back against unfair fines, taxes, and regulations starting now. This means stronger protection for U.S. businesses, more jobs at home, and keeping American innovation safe and thriving.
Analyzed Economic Effects
7 provisions identified: 7 benefits, 0 costs, 0 mixed.
Administration Will Retaliate Against Unfair Foreign Taxes
The President ordered that when a foreign government imposes discriminatory, disproportionate, or extortive fines, penalties, taxes, or other burdens that shift funds or intellectual property from U.S. companies, the Administration will act — including imposing tariffs and other responsive actions — to mitigate harm. This policy was announced in a Presidential Memorandum dated February 21, 2025.
Renew Section 301 Probes of Specific DSTs
The United States Trade Representative (USTR) must decide whether to renew investigations under section 301 of the Trade Act of 1974 into the digital services taxes (DSTs) of France, Austria, Italy, Spain, Turkey, and the United Kingdom. The memorandum notes those DST investigations were first initiated on July 16, 2019 and June 5, 2020, and says that if renewed the USTR shall take all appropriate and feasible action in response.
Treasury Review of Extraterritorial or Discriminatory Taxes
The Secretary of the Treasury, consulting with Commerce and the USTR, must determine whether any foreign country applies discriminatory or extraterritorial taxes on U.S. citizens or companies, or has tax measures inconsistent with U.S. tax treaties or actionable under section 891 of title 26. The Secretary will include the findings in the report called for in the Presidential Memorandum on the OECD Global Tax Deal.
Possible New Investigations, Including Canada
The USTR is directed to consider investigating the DST of any other country that may discriminate against U.S. companies and to determine whether to pursue a United States-Mexico-Canada Agreement (USMCA) panel regarding Canada’s DST. This review is to be done consistent with section 302(b) of the Trade Act of 1974.
Joint Review of Discriminatory Rules Harming U.S. Firms
The Secretary of the Treasury, the Secretary of Commerce, and the USTR must jointly identify trade and regulatory practices by other countries that discriminate against or disproportionately affect U.S. companies, especially in the digital economy, and recommend actions to counter those practices. The USTR will include the results in the report required by the America First Trade Policy Memorandum.
Push for Permanent Moratorium on Duties for Digital Transmissions
The USTR must identify tools the United States can use to secure among trading partners a permanent moratorium on customs duties on electronic transmissions, and include this review in the America First Trade Policy report. The effort targets customs duties on digital goods and services.
New Reporting Channel for U.S. Businesses Abroad
The USTR, with Commerce and the Senior Counselor for Trade and Manufacturing, must establish a process that lets American businesses report foreign tax or regulatory practices that disproportionately harm U.S. companies. This creates a formal channel for companies to alert the U.S. government to harmful foreign measures.
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