The EU Aims to Counter US Service Exports, Targeting Big Tech Companies

BlockBeats News, March 28th, according to the Financial Times, the EU is considering retaliating against the US's service exports, including large tech companies' businesses, in response to Trump's imposition of a 25% tariff on the automotive industry, and has promised to take further action next week. An EU diplomat said: "Americans think they have the upper hand in (the trade war), but we also have the capacity to do so." He added that the ultimate goal is to ease tensions through a comprehensive trade agreement. The retaliation may include restrictions on the intellectual property of large tech companies. Another example is banning Musk's Starlink satellite network from winning government contracts. Italy is already reconsidering whether to purchase the system. (FXStreet)