The Minister of Finance in France said in an interview with the JDD newspaper, that the European Union’s response to the American definitions could include the regulation of data use by large American technology groups.
“We have many tools at our disposal at the European level: organizational, financial, customs, for example,” said Erik Lombard said, “for example, we can enhance some environmental requirements or organize data use by some digital players,” he added.
On April 2, President Donald Trump announced the widespread tariff for imports in the United States, including 20 % of commodities in the European Union, as part of his efforts to shake the global trading system. The bloc – the largest commercial partner in the United States – pledged revenge for counter -measures if necessary, including its definitions, tax services and targeting American technology companies.
Lombard said that the European Union rules also allow taxes on certain American activities, while all open and discussion options remain. In detail, he did not explain how data use can be enhanced by large technology groups. Data collection and processing are already regulated through the rules of the European Union, such as long -term gross domestic product.
Read more:France helps us great technology in the European Union’s revenge to the Trump tariff
Lombard said that the European response to the American customs tariff must have “consequences” for both the continent and the United States. He told the newspaper: “It is not a matter of imposing taxes on all American imports, which will be inversely conducive to our economy as much as it is with it.” “So we will target some industrial parts, in an accurate way.”
Lombard stressed that he still sees the possibility of raising definitions through negotiations. He said, “If we reach a balanced agreement within a reasonable time frame, then this will be a confidence factor” for French companies and families.
This story was originally shown on Fortune.com
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