Only a few days after Donald Trump's announcement of a massive increase in customs tariffs for Europe, and with fears of a new stock market crash among specialists, the European Union's reaction could be faster than expected...
While Brussels has long been Criticized for its inaction in the face of the latest decisions on the other side of the Atlantic, the EU's response to the increase in customs tariffs could have a very heavy impact on American tech giants. While GAFAM are primarily targeted, it is in reality the entire economy that could be targeted by this new European regulation.
New regulations for large American groups?
In a long interview published in the JDD last Saturday, the French Minister of Finance, Éric Lombard, already seems to be organizing the European response to the American continent. Indeed, he notably declared that Europe had many tools to respond to Donald Trump, whether regulatory, customs, or fiscal.
With a standoff that only seems to be beginning between the two continents, apart from the environmental requirements mentioned by the Minister during his interview with the JDD, he returned to digital technology. Indeed, it would be the use of European user data by large American groups that could well reshuffle the cards...
Towards an upcoming reduction in customs duties for Europe?
Donald Trump's statement on April 2nd caused a real earthquake in Europe and in the other countries affected by these increases in customs duties. While other countries such as Cambodia are experiencing an increase of 49%, or 34% for China, Europe has it suffered a 20% increase in customs duties on the now-famous "Liberation Day".
Although China quickly decided to retaliate with a 34% tax on American imports into its market, the European Union seems to have decided otherwise. Indeed, before playing on the same field as Donald Trump, Brussels could try to weaken American companies by proceeding in a completely different way...
Indeed, according to Éric Lombard, the measures taken by the European Union could not only concern customs duties, but go even further by targeting American companies.
While the Minister of Finance has not yet discussed in detail the sanctions that could be put in place, certain measures such as the GDPR could be strengthened and put the GAFAM in difficulty...
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