Overview

• President Donald Trump signed a memorandum warning of potential tariffs in response to EU digital service taxes and fines targeting US technology companies.
• The European Union's Digital Markets Act (DMA) imposes strict regulations and fines, up to 10% of global annual revenue, on designated 'gatekeeper' firms, most of which are US-based.
• US lawmakers, led by Rep. Jim Jordan, demand clarification from EU antitrust chief Teresa Ribera, alleging the rules unfairly disadvantage American firms while benefiting European and Chinese competitors.
• The EU defends its regulations, stating they apply equally to all companies and aim to ensure fair competition and consumer choice within the digital market.
• Tensions escalate as the Trump administration accuses the EU of using its laws to impose a 'tax' on American companies, with bipartisan support for addressing these concerns.