Trump’s new tax bill contains ‘sledgehammer’ to hit back against foreign digital taxes

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Open this photo in gallery: U.S. President Donald Trump has been pressing foreign countries to lower barriers to U.S. commerce, but experts warn that retaliatory taxes could mean less foreign investment.Kevin Dietsch/Getty Images U.S. President Donald Trump would have the power to retaliate against countries that impose special digital service taxes on large U.S. technology companies like Amazon AMZN-T and Alphabet GOOG-Q, under a provision in the sweeping tax bill that Congress is considering. “If foreign countries want to come in the United States and tax US businesses, then those foreign-based businesses ought to be taxed as well,” said Rep....