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What YGCC is Reading #546
Trade Tensions Test EU’s Tech Strategy
The EU is deliberating retaliatory measures in response to President Trump’s proposed 10% reciprocal tariff on EU imports over the next 90 days. While European Commission President Ursula von der Leyen has suggested a potential tax on digital advertising revenue targeting U.S. Big Tech firms like Amazon, Google, and Facebook, Germany has warned against aggressive digital retaliation. German finance minister Jörg Kukies emphasized the EU’s current dependence on American digital infrastructure, such as AI and cloud services, making substitution difficult. He supported preparedness for retaliation but urged for a nuanced, sector-based strategy. The EU previously imposed tariffs on U.S. steel and aluminum imports and had prepared duties on U.S. consumer goods, now suspended for 90 days. France supports keeping Big Tech taxes on the table, as the U.S. holds a service trade surplus with the EU. Meanwhile, countries like Ireland and Luxembourg remain hesitant, while Poland called for unity among member states.
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Could this escalation reduce access to U.S. platforms or services relied upon by European businesses?
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What lobbying or policy strategies should Big Tech employ to mitigate regulatory backlash in Europe?
Read more from Financial Times.
Image adapted from Financial Times.
