The European Union (EU) is contemplating imposing levies on U.S. tech giants like Meta Platforms (NASDAQ:META) and Google (NASDAQ:GOOG) (NASDAQ:GOOGL) if the ongoing tariff negotiations with the Trump administration fail to be resolved.
What Happened: Ursula von der Leyen, the EU Commission president, told the Financial Times that the EU is seeking a balanced agreement with Washington during a 90-day pause in additional tariffs. However, if the talks fail, the EU is ready to expand the trade war to services, potentially including a tax on digital advertising revenues.
The measure would involve a tariff implemented uniformly across the single market, unlike digital sales taxes, which are levied separately by individual member states, explained Von der …