Trump’s UK Visit Brings With It Bigger Meaning For U.S. Tech (From RealClearMarkets)

Look for the United States to soon fundamentally change how it deals with the European Union (EU) on tech policy, and for the EU to wake up and start to finally treat leading U.S. tech companies with respect.

Since taking office, President Donald J. Trump has been blisteringly critical, and appropriately so, of the EU for its digital service taxes and a bevy of other confiscatory instruments. These are discriminately targeted at hurting just U.S. tech companies.

A series of digital taxes, onerous rules, and regulations from the EU have resulted in tens of billions of dollars’ worth of fines against U.S. companies. Worse, the EU is threatening to seize more than 20 percent of the companies’ global annual revenue. Among other potential impacts, hundreds of billions of dollars of AI investments would instead go to European Commission bureaucrats.

Paul Steidler discusses this in an Op-Ed in RealClearMarkets here.