European Christian Democrat Leader Threatens to Levy Higher Taxes on US Digital Firms in Europe
Manfred Weber, the leader of the European People’s Party and the European Parliament’s chief of the Christian Democrat group, has threatened to impose higher taxes on US digital companies in Europe, warning that the EU must be prepared to take countermeasures.
“We are capable of taking countermeasures” Weber told the Funke Media Group’s Saturday editions. “We must assume that Trump will implement what he has announced: 20 percent tariffs on European products will soon be possible.”
According to Weber, the US digital companies make a lot of money in the EU and pay very little in taxes. “One could certainly set a precedent there” he said.
Weber described politics as “a form of arm wrestling” for the incoming US president, suggesting that Trump will only respect the EU if it stands up for itself and is united. “When it comes to tariffs, the EU is the only authority – there is no national veto, which makes us strong” he said.
However, Weber emphasized that the EU does not want a trade war. “This would only weaken the West as a whole, for example, against China” he said. “We need a economic NATO. We should offer Trump to take a joint stand against China.”
Weber issued a stern warning to the Europeans. “On January 20, a new era will begin. This is not just about Trump’s election campaign, but also about some personnel decisions in the formation of the new administration that have been shown” he said. “We must take Trump seriously and prepare ourselves.