Italy is shaking things up with a 3% web tax on digital giants raking in over 750 million euros annually. This bold move is aimed squarely at big tech while leaving small businesses off the hook.

As tensions rise, Italy's Deputy Economy Minister, Maurizio Leo, is ready to engage with Donald Trump's administration to sidestep potential U.S. retaliation.

This tax is part of Italy's strategy to level the playing field in the digital marketplace, which is currently dominated by a handful of major corporations.

With the stakes high and diplomatic negotiations underway, the world watches closely as Italy navigates its new path.

Here's the full scoop.