Trump Trade Advisor Navarro: We will set a reciprocal tariff for digital services tax

Market news

25 February 2025

Trump Trade Advisor Navarro: We will set a reciprocal tariff for digital services tax

Trump Trade Advisor Peter Navarro hinted at the possibility of yet more tariff exemptions during an interview on CNBC on Tuesday. Trade Advisor Navarro's comments, while welcome by markets, contradict statements from other Trump administration policymakers who have already earmarked planned tariffs as a potential funding source to plug the upcoming holes in team Trump's budget goals.

Key highlights

On Canada, Mexico tariffs: Negotiations are ongoing.

If we don't get progress, Trump will do tariffs.

We will set a reciprocal tariff for digital services tax.

Digital services taxes are not about helping Amazon or Meta, the digital services taxes are about fairness.

I question whether Germany is an ally because of taxes.

Fed's Barkin: I expect upcoming PCE will show a further decline

US Treasury Secretary Bessent: I aim to reduce spending and ease monetary policy at the same time

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