Donald Trump has threatened to impose tariffs and penalties on countries, including Australia, that target American tech giants with taxes and regulations. This stems from concerns that foreign governments are unfairly "plundering" revenue and hindering the success of US technology companies. Treasurer Jim Chalmers is in Washington to discuss these potential tariffs, as well as existing tariffs on Australian steel and aluminium exports. The US is particularly focused on digital services taxes levied by European countries, but Australia's proposed media bargaining code, which would penalise tech giants if they don't pay for Australian news, is also under scrutiny. The Trump administration views these measures as discriminatory and designed to unfairly transfer funds from American companies.

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