The EU is considering imposing restrictions on major Silicon Valley tech companies if US President Donald Trump decides to impose tariffs on European goods.
This could widen the trade conflict between the US and the EU and affect the services sector, the Financial Times writes.
Europe is preparing a response to possible US sanctions
Brussels is considering the option of using a mechanism developed during Trump's first presidential term.
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It allows for restrictions on trade in services in response to tariffs that are used for political pressure.
The Mutual Recognition Act (ACI), which came into force in 2023, could play an important role in this. It provides for a wide range of measures, including the possibility of depriving American companies of protection for their intellectual property rights.
This means that the EU can ban software downloads, block access to streaming services and restrict the use of products from American IT corporations.
In addition, the option of blocking investments and restricting access to the European market for American banks, insurance and financial companies is being considered.
Disputes within the EU over a tough response
There is no unified position within the European Union on the need to expand the trade conflict.
Some countries have expressed concerns about possible economic risks, especially given the weak economic growth region.
On February 4, a meeting of EU trade ministers was held in Warsaw, dedicated to the threat of new American tariffs. Most officials spoke in favor of tough retaliatory measures.
European Trade Commissioner Maroš Šefčovič said that the EU is not looking for conflict, but is ready to give a decisive response. He also stressed that the EU has a significant deficit in services trade with the US, although there is a surplus in goods trade.
Recall that on February 2, the EU said it was ready to respond harshly if Donald Trump introduces tariffs.
Brussels strongly condemned his economic steps against Canada, Mexico and China, and promised retaliatory measures in the event of a new round of protectionism on the part of the US.
