President Donald Trump's trade policy aims to reshape global trade relations but has overlooked the importance of exporting digital services. Experts warn of serious consequences for Silicon Valley and the broader digital economy.
Impact on the American Digital Economy
Allianz Trade's report reveals that the export of digital services, including advertising, video streaming, and cloud platforms, amounts to at least $600 billion. This so-called 'invisible export' has vastly outpaced the growth of traditional goods exports. Allianz Trade emphasizes the need to take these services into account in trade policy.
Risks of Retaliatory Measures for Technology
Experts note that if countries affected by tariffs impose their own tariffs on digital services, this could negatively impact the American tech industry. European Commission President Ursula von der Leyen has confirmed plans for countermeasures if talks with the US fail, including taxes on digital advertising revenues.
Investments and Restructuring Supply Chains
Many American companies are considering increasing investments in China, while only a small number plan cuts. Experts believe that such measures could lead to 'parallel digital universes' with incompatible standards, affecting the global market.
In the context of rising tensions in international trade, ignoring digital services in policy could lead to serious consequences for the economic position of the US. It is crucial for authorities to adapt their approaches to reflect the realities of the digital economy.
