US threatens to retaliate against EU firms over digital tax [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
“Should responsive measures be necessary, U.S. law permits the assessment of fees or restrictions on foreign services, among other actions,” the post said. The US is preparing an investigation under Section 301 of the Trade Act of 1974 that would allow the administration to impose trade remedies, including tariffs, according to a person familiar with the matter who requested anonymity to discuss internal efforts. The USTR named several other European companies, including DHL Group, SAP SE, Amadeus IT Group SA, Capgemini SE, Publicis Groupe and Mistral AI, which it said have enjoyed unfettered access to the US market for years. At issue are regulations governing digital commerce, as the EU moves to regulate and tax US tech giants, including Alphabet Inc.'s Google, Meta Platforms Inc. and Amazon.com Inc. Critics of the EU's digital tax plans say they are slowing down technological innovation, with global implications, and unfairly seeking to raise revenue. QuickTake: What Are t
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