The federal government will push ahead with plans to hit big tech firms with hundreds of millions of dollars in new taxes unless they agree to pay for Australian news, despite Donald Trump’s threat to retaliate by doubling taxes on foreign nationals and companies.

Almost 90,000 expats living in the US and thousands of Australian companies that operate there could see their tax rates doubled as part of Mr Trump’s “America first” trade policy unless the Albanese government junks its so-called “news bargaining incentive”.