Apple, Facebook, And Google Become Bargaining Chips In US Trade War: EU Threatens Retaliation, UK Offers Tax Relief For Lower Tariffs

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Apple, Facebook, And Google Become Bargaining Chips In US Trade War: EU Threatens Retaliation, UK Offers Tax Relief For Lower Tariffs - Benzinga

Quick Summary:

The ongoing U.S.trade war has put tech giants like Apple Inc.(NASDAQ:AAPL), Facebook-parent Meta Platforms Inc.(NASDAQ:META), and Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google at the heart of negotiations, with the EU preparing retaliatory measures and the U.K.offering tax relief to secure lower tariffs.What Happened: The U.K.government made a move to pacify President Donald Trump's tariffs by offering significant tax relief to U.S.tech giants.U.K.

Prime Minister Keir Starmer proposed reducing the digital services tax (DST) for major U.S.tech firms in exchange for lower tariffs, reported The Guardian.

The UK government is hoping this tax concession will help secure a carve-out from Trump's tariffs, particularly targeting products like cars and tech.