The EU could hit Wall Street where it hurts with its tariff response — the tech giants

The EU could hit Wall Street where it hurts with its tariff response — the tech giants

The European Union has stressed that it is considering all options in its countermeasures — but restrictions on Big Tech would hurt its own consumers.

Trump tariffs: EU may take ‘nuclear’ option and target US tech giants

Taoiseach Micheál Martin warns against a move against the tech sector as EU considers retaliating to Donald Trump's suite of tariffs

The Danish Food and Agriculture Association expresses concern about the EU's draft on which American goods we in the EU should impose tariffs on.

It is not done with punitive tariffs for whiskey and jeans. The EU will probably need tougher instruments against the new protectionism of the US government. It is conceivable that there are several variants of levies to meet the president's main supporters.

EU’s best US riposte is a focused digital strike

As China hits back with tariffs to Washington’s levies, Europe is mulling its response. One target is the $77 bln US services surplus. Hiking Big Tech fines would hit the EU’s credibility, but a bloc-wide push on digital tax might move the trade war onto more favourable ground.

The trade war declared by Donald Trump this Wednesday is not to the taste of European leaders, who are preparing a response on digital services.