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Source: AFP
The EU has said "everything is connected the table" arsenic it readies its effect -- including perchance targeting US Big Tech and taxing much American goods -- to President Donald Trump's sweeping caller tariffs should talks with Washington fail.
The European Commission, successful complaint of the EU's commercialized policy, refuses to springiness immoderate details connected what its effect to Trump's 20 percent tariffs starting April 9 could include.
But France, Germany and Austria person suggested targeting the biggest integer companies, including Google and Facebook proprietor Meta.
These are the options the 27-country European Union has been discussing:
Tariffs
When Trump deed alloy and aluminium imports with a 25 percent tariff successful March, the EU decided to instrumentality "an oculus for an eye" approach.
Since his other levies would impact astir $28 cardinal of the EU's exports, Brussels opted to people US goods that are worthy the aforesaid magnitude from mid-April, including Harley Davidson motorbikes arsenic good arsenic cultivation products similar soybeans and meat.
Now the EU faces caller tariffs of 20 percent announced by Trump this week, which has kickstarted different speech wrong the bloc astir further retaliatory action.
"We volition respond successful areas wherever it hurts the United States," a elder EU authoritative said.
Officials person antecedently said the EU volition people goods from politically important US states, including soybeans produced successful Louisiana, the location of US Speaker Mike Johnson.
"We emotion soybeans, but we can get them from Brazil," the authoritative said.
"We similar Harley-Davidsons, but we besides similar MotoGuzzi. Or we tin bargain Yamaha. So, determination are alternatives determination and we are not hurting ourselves."
Tech taxes?
Although the committee has been coy astir whether it has US Big Tech successful its sights, France consecutive disconnected the bat said the EU's targets could see American tech titans.
French authorities spokeswoman Sophie Primas said the EU could "attack" online services, "which are not taxed contiguous but could be".
Economy Minister Robert Habeck echoed Primas, insisting "everything is connected the table".
The United States had a surplus of 109 cardinal euros ($120 billion) successful services successful 2023 with the European Union.
US companies predominate successful fiscal services including banks and paper outgo systems similar Mastercard, and tech specified arsenic Amazon, Google, Meta and Microsoft.
"If they're going to spell aft our goods surplus, past we'll look astatine the services surplus," an EU authoritative said.
Financial services could besides beryllium targeted, not conscionable large tech, the authoritative said.
"We're presently discussing it, and successful specified cases, the effect indispensable beryllium made nationalist arsenic soon arsenic it's decided," French Finance Minister Eric Lombard said connected Friday.
"It's a awesome to our American friends. But we're moving connected a bundle of responses that could spell good beyond tariffs," helium told France's BFMTV/RMC broadcaster.
Trade tools
An EU authoritative refused to accidental what weapons Brussels would deploy against the United States but said the bloc is weighing whether to usage the anti-coercion instrument.
First adopted successful 2023 but ne'er used, the limb punishes immoderate state utilizing economical threats to exert unit connected the EU.
Initially created to antagonistic immoderate commercialized unit from China, present it could assistance the EU with the United States.
And with this tool, the committee tin enactment without the enactment of each EU states.
It would let the EU to bounds US companies' entree to nationalist procurement contracts successful Europe, which France's Primas has already raised arsenic a instrumentality against Trump.
Officials judge targeting US firms with EU rules and taxation would not hazard higher prices for the continent's consumers.
"We are prepared to instrumentality firm, impactful but proportionate countermeasures," EU commercialized main Maros Sefcovic said connected Thursday.
The EU has truthful acold maintained a unified stance against Trump's tariffs.
"Europe has everything it needs to marque it done this storm. We are successful this together," EU main Ursula von der Leyen said.
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Source: AFP
