EU Prepares Countermeasures Against US Tariffs, Digital Taxation Possible

Trade ministers from the European Union member states have unanimously agreed to prepare for comprehensive countermeasures against the United States, including potential taxation on digital companies. This decision comes in response to the broad range of tariffs imposed by former U.S. President Donald Trump, which have sparked global trade war concerns and financial market volatility.

The EU's trade commissioner, Maros Sefcovic, held discussions with the trade ministers of the member states on Monday to coordinate a unified response. Sefcovic emphasized that while the EU remains open to dialogue and prefers to resolve issues through negotiations, it will not wait indefinitely. He stated, "We do not want a confrontation, but we are ready to take action if necessary."

German Vice-Chancellor and Minister for Economic Affairs and Climate Action, Robert Habeck, highlighted the need to "more deeply examine" the EU's countervailing tools. This mechanism could pave the way for future taxation on digital giants, many of which are headquartered in the United States. The EU Commission President, Ursula von der Leyen, announced the formation of an import monitoring task force to track the impact of the tariffs and mitigate indirect effects from trade diversion.

Von der Leyen reiterated the EU's commitment to active negotiations but underscored the readiness to implement countermeasures if necessary. She also expressed the EU's intention to strengthen trade relations with other global partners. The EU's unified stance reflects a determination to protect its economic interests while seeking a diplomatic resolution to the trade dispute.