President Trump issued a memo on Friday that seeks to protect American companies and innovators from what he called "overseas extortion," adding to a bevy of actions proposed in his first month in office.

Under the order, tariffs could be imposed on foreign governments in response to "one-sided, anti-competitive" taxes and other fines levied on the U.S.

The “Defending American Companies and Innovators From Overseas Extortion and Unfair Fines and Penalties," order greenlights the Trump administration's ability to offset any digital service taxes (DSTs), policies,........

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