Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • British retail sales rose more than expected in April
    • ‘The Lord Is Moving’: Former Mocker of Christianity Joe Rogan Is Now Attending a Church | The Gateway Pundit
    • Kathy Hilton Breaks Silence On Garcelle Beauvais Leaving ‘RHOBH’
    • Trump attends memecoin gala as protesters slam ‘crypto corruption’
    • EU membership, seizing Russia’s money needed to rebuild Ukraine: Analysts | Russia-Ukraine war News
    • Angels finding remarkable success without Mike Trout
    • Trump Up In The Polls
    • Bosses at ABC News Tell the Hosts of ‘The View’ to Cool it on Heated Politics – Will it Work? | The Gateway Pundit
    News Study
    Friday, May 23
    • Home
    • World News
    • Latest News
    • Sports
    • Politics
    • Tech News
    • World Economy
    • More
      • Trending News
      • Entertainment News
      • Travel
    News Study
    Home»World Economy

    Germany warns against EU hitting Big Tech in retaliation to Trump tariffs

    Team_NewsStudyBy Team_NewsStudyApril 11, 2025 World Economy No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Unlock the Editor’s Digest at no cost

    Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.

    Germany and different European international locations have cautioned in opposition to Brussels probably hitting Huge Tech if commerce negotiations with the Trump administration fail over the subsequent few months.

    US President Donald Trump earlier this month mentioned he would impose a 20 per cent “reciprocal tariff” on all EU imports, which has since been lowered to 10 per cent over a 90-day interval by which he’s in search of talks with world companions.

    European Fee president Ursula von der Leyen in an interview with the Financial Times mentioned Brussels was readying retaliatory measures ought to these talks fail, together with a doable tax on digital promoting revenues that might hit tech teams similar to Amazon, Google and Fb.

    However Germany on Friday cautioned in opposition to such a transfer.

    “We merely must be cautious with digital companies as a result of we’ve no actual alternate options to the providing by the American digital trade,” mentioned German finance minister Jörg Kukies, mentioning knowledge centres for cloud companies and synthetic intelligence.

    “There are merchandise the place the power to substitute from different companies and different items from different areas of the world is straightforward, and there are sectors the place it’s tougher,” he mentioned forward of a gathering of European finance ministers in Warsaw to debate the financial impacts of commerce tensions.

    Kukies mentioned that the bloc ought to put together retaliatory measures, however added: “We simply must be nuanced and differentiated.”

    The EU has suspended its personal retaliatory tariffs on US merchandise similar to yachts, bikes, clothes and foodstuffs for 90 days to permit for the talks to play out. These levies had been imposed in response to Trump imposing 25 per cent tariffs on European metal and aluminium, which stay in place.

    France and most different EU member states help von der Leyen’s choice to attract up retaliation choices on US companies corporations, in line with folks briefed on discussions between capitals. However international locations with a big US tech presence similar to Eire and Luxembourg are extra reticent.

    Eric Lombard, the French finance minister, instructed the FT: “We’ve mentioned every little thing is on the desk. Among the many set of measures that we may take there may very well be measures that concern the digital trade. It is without doubt one of the components on the desk.”

    Really useful

    He added that the measure had not but been determined and that the primary goal remained “to achieve an settlement with the People”.

    French President Emmanuel Macron has additionally raised the potential for hitting digital companies — an space that, opposite to commerce in items, the US enjoys a big surplus with the EU.

    EU economic system commissioner Valdis Dombrovskis on Friday additionally mentioned that “once we are discussing the commerce response we clearly must look additionally at commerce in companies together with digital companies”.

    Poland’s finance minister Andrey Domański, who chaired the discussions in Warsaw, appealed to the bloc to “stay united”. “We’d relatively desire to first hear the Fee official proposal after which to remark,” he mentioned.



    Source link

    Team_NewsStudy
    • Website

    Keep Reading

    British retail sales rose more than expected in April

    Trump Up In The Polls

    BYD Outpaces Tesla In Europe For The First Time

    Media Dismisses South Africa’s White Farmer Genocide

    LVMH’s Bernard Arnault criticises EU efforts to reduce Donald Trump’s tariffs

    Apple set to expand India supply chain through $1.5bn Foxconn plant

    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    British retail sales rose more than expected in April

    May 23, 2025

    ‘The Lord Is Moving’: Former Mocker of Christianity Joe Rogan Is Now Attending a Church | The Gateway Pundit

    May 23, 2025

    Kathy Hilton Breaks Silence On Garcelle Beauvais Leaving ‘RHOBH’

    May 23, 2025

    Trump attends memecoin gala as protesters slam ‘crypto corruption’

    May 23, 2025

    EU membership, seizing Russia’s money needed to rebuild Ukraine: Analysts | Russia-Ukraine war News

    May 23, 2025
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    About us

    Welcome to NewsStudy.xyz – your go-to source for comprehensive and up-to-date news coverage from around the globe. Our mission is to provide our readers with insightful, reliable, and engaging content on a wide range of topics, ensuring you stay informed about the world around you.

    Stay updated with the latest happenings from every corner of the globe. From international politics to global crises, we bring you in-depth analysis and factual reporting.

    At NewsStudy.xyz, we are committed to delivering high-quality content that matters to you. Our team of dedicated writers and journalists work tirelessly to ensure that you receive the most accurate and engaging news coverage. Join us in our journey to stay informed, inspired, and connected.

    Editors Picks

    Russia’s Putin open to Ukraine peace deal: US envoy | Russia-Ukraine war News

    April 15, 2025

    AGAIN? Spain Hit by Widespread Phone and Internet Outages Less Than a Month After Mass Blackouts | The Gateway Pundit

    May 20, 2025

    US sanctions Sudan after ruling chemical weapons used during civil war | Sudan war News

    May 23, 2025

    AI startup Perplexity confirms interest to buy TikTok

    March 22, 2025
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    • Privacy Policy
    • Disclaimer
    • Terms & Conditions
    • About us
    • Contact us
    Copyright © 2024 Newsstudy.xyz All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.