“The EU can impose restrictions on large techno -companies from the Silicon Valley if Donald Trump decides to make duties on European goods. This can extend the trade conflict to the service sector.”, – WRITE: epravda.com.ua
The EU can impose restrictions on large techno -companies from the Silicon Valley if Donald Trump decides to make duties on European goods. This can extend the trade conflict to the service sector. Financial Times writes about it. The EU considers the possibility of using a mechanism created during Trump’s first presidential term. It allows you to impose restrictions on services in response to duties used for political pressure. The Mutual Recognition Law, which has been in force since 2023, opens up a wide selection of measures. In particular, the European Union may be deprived of US companies to protect their intellectual rights, such as prohibition programs and access to streaming services. Advertising: it is noted that it is also possible to block investment and restriction access to the European market for banks, US insurance and financial companies. Nevertheless, some EU countries are not sure whether it is worth expanding the trade dispute into new areas. Diplomats are afraid of economic risks, especially against the background of poor growth. On February 4, the EU trade ministers met in Warsaw to discuss the threat of American duties. Most spoke for harsh response. The European Commissioner for Trade Marosh Shefchovich has stated that the EU did not seek conflict but is ready for a rigid answer. He also noted that the block has a major lack of trade in the US in the field of services, although there is a surplus in trade. Advertising: Recall: US President Donald Trump has declared intentions to impose duties on products from EU countries. US President Donald Trump has repeated the call to the European Union to buy more US oil and gas if the EU wants to avoid new tariffs.