logo
EU lawmakers claim US visit helped smooth differences on tech regulation

EU lawmakers claim US visit helped smooth differences on tech regulation

Euronews28-02-2025

The Internal Market Committee of the European Parliament (IMCO) visiting the US this week to meet with US policymakers and stakeholders has claimed it was able to 'clarify some misunderstandings' with regard to EU laws amid an ongoing backlash from US Big Tech.
'Our European laws are the result of a democratic process. There is a broad consensus that we cannot backtrack on our digital rulebook, made with the European citizens and businesses in mind and not to appease American 'Big Tech' oligopolies,' said MEP Anna Cavazzini (Germany/Greens/EFA), the chair of IMCO, in a statement.
The visit, which took place from 24 to 28 February, comes in the wake of heavy criticism of EU tech regulation from the Republican administration of President Donald Trump. Vice President JD Vance, who spoke in Paris at the AI Action Summit earlier this month, said the US will not accept others "tightening the screws" on US companies.
In addition, Big Tech companies, including Meta, seem keen to co-opt Trump into pushing back against rules affecting online platforms, including the EU's AI Act, Digital Services Act (DSA) and Digital Markets Act (DMA).
Cavazzini said that while Europe has witnessed 'aggressive communication' from the US, these calls do not represent the views of 'the majority of stakeholders, but rather only those of powerful tech giants in Silicon Valley'.
'Smaller US businesses confirmed that they benefit from the Digital Markets Act establishing conditions in the EU that are favourable to all market actors and incentivise innovation,' she said.
Industry also spoke out against the US criticism. EU consumer group BEUC said that 'the EU's tech laws are essential to address the overwhelming power of Big Tech giants.'
'The EU must stand firm and enforce laws adopted by its sovereign and democratic institutions. [...] It is extremely worrying to see the US Administration threatening trade retaliation in response to lobbying by Big Tech companies,' Agustín Reyna, Director General of BEUC, said in a statement.
The IMCO delegation said the meetings with members of US Congress, representatives from the White House Office of Science and Technology Policy, the State Department, the Federal Trade Commission, as well as think tanks, were constructive.
The delegation also consisted of Andreas Schwab (Germany/EPP), Pablo Arias Echeverría (Spain/EPP), Christel Schaldemose (Denmark, S&D), Klára Dostálová (Czechia/PfE), Piotr Müller (Poland/ECR), and Sandro Gozi (France/Renew).

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Which European countries are seeing taxes outpace real wage growth?
Which European countries are seeing taxes outpace real wage growth?

Euronews

timean hour ago

  • Euronews

Which European countries are seeing taxes outpace real wage growth?

Among the 27 European countries covered in the OECD's Taxing Wages 2025 report, seven recorded a decline in real post-tax income in 2024 compared to 2023 for the average single worker without children. This measure reflects the amount of money left to spend or save after taxes are deducted and inflation is taken into account. The countries affected were Italy, Estonia, Czechia, France, Greece, Belgium, and Spain. In Italy, the average wage increased by 3.9% in 2024. With inflation at 1.2%, this translated to a real wage growth of 2.7% before taxes. However, the personal average tax rate—which includes both personal income tax and employee social security contributions—rose sharply by 7.5%. This created a significant gap between real wage growth and the increase in personal taxation, ultimately eroding much of the benefit from higher wages. Cristina Enache, global tax economist at the Tax Foundation, emphasised the impact of increased social security contributions. While this highlights a growing gap between wages and taxation, it doesn't directly reveal how much real post-tax income changed. Personal average tax rates also increased by more than 4.5% in Estonia and Czechia, leading to lower real post-tax incomes in 2024, as real wage growth did not keep pace. Enache of the Tax Foundation noted that in Estonia, the tax burden rise was driven by the removal of certain tax allowances. In Czechia, the increase was primarily due to higher social security contributions from either employees or employers. In France, real wages grew by 0.7%, but the personal average tax rate increased by 1.7%, resulting in lower real post-tax incomes compared to 2023. During this period, Portugal, the UK, and Turkey recorded the highest increases in real post-tax incomes. In Portugal, the personal average tax rate fell by 8%, while real wages grew by 4.7%. 'Portugal reduced its income tax rates for the first six tax brackets, reducing the overall tax wedge for the average income earner,' Cristina Enache told Euronews. In the UK, the average tax rate dropped by 8.7%, although real wage growth was modest at 1.6%. In Turkey, despite a 3.9% increase in the personal average tax rate, a substantial 15.5% rise in real wages led to significantly higher real post-tax incomes in 2024 compared to 2023. However, some critics have accused the national statistical office of manipulating inflation figures. Cristina Enache explained that "real post-tax income" refers to the income a person takes home after taxes, adjusted for inflation. 'A lower real post-tax income means that after taxes and inflation, the individual has less money to spend. Therefore, a decrease in the real post-tax income between 2023 and 2024 means that the worker earning the average wage is losing purchasing power,' she said. 'Bracket creep' occurs when income growth causes individuals to pay higher average income tax rates over time. This typically happens when inflation pushes taxpayers into higher tax brackets or erodes the value of tax credits, deductions, and exemptions. According to the Tax Foundation, 'bracket creep' leads to higher income taxes without any real increase in income. 'Indexing the income tax (and, depending on the design, the social security contributions) to inflation would avoid bracket creep and could mitigate the decrease in real post-tax income for workers,' Enache pointed out. The Euronews article titled 'Where did real wages rise and fall the most in Europe in 2024?' takes a closer look at how wages changed compared to 2023—examining nominal increases, inflation, real wage growth, and average salaries. The HCOB Eurozone Manufacturing PMI for May 2025 was 49.4, up from 49.0 in April, according to S&P Global. However, this is still in contraction territory, as it was below 50, and marked the slowest pace of contraction in the manufacturing sector since August 2022. Meanwhile, output rose for the third month in a row, with new orders stabilising after almost three years of decline. The rate of backlog depletion also dropped to the slowest pace since June 2022. On the other hand, employment levels continued to lag, although they decreased at the slowest rate since September 2023. Input costs fell for the second consecutive month, which was the fastest decline in 14 months, while output prices slid for the first time since February this year. Business confidence rose to the highest level in more than three years in May. Dr. Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in the May Eurozone PMI report: 'The upward trend in the headline PMI is still continuing, pointing towards a recovery that is progressing. That is backed up by the rise in production we have seen since March. 'What is especially encouraging is that production has picked up across all four major eurozone economies, which really highlights how broad-based this recovery is. With output rising for three months in a row, historical patterns suggest there is a 72% chance we will see another increase in the next month.' However, he highlighted that the possibility of the US imposing steeper tariffs against the EU is a major risk to this outlook. 'Still, companies are noticeably more upbeat than they were last month about producing more a year from now, which shows a certain resilience, even in the face of potential protectionist moves from across the Atlantic,' de la Rubia added. Falling oil and gas prices and lower interest rates supported the eurozone manufacturing sector in May, with production rising in France, Germany, Spain and Italy. The HCOB Spain manufacturing PMI for May was 50.5, a jump from April's 48.1, according to S&P Global. This was ahead of analyst expectations of 48.4. After three straight months of contraction, this was the first expansion in the Spanish manufacturing sector, while also being the highest number since January. May's higher figure could be because of underlying demand improving slightly. While uncertainties affected the sector significantly in April, the market seemed to readjust a little in May. Spanish manufacturing sales volumes fell in May, however, the decline was the smallest in four months. Companies continued to hire for the third consecutive month, while input costs fell for the first time since the beginning of last year. Output prices also dropped at the fastest rate since September 2024, mainly due to higher market competition. Similarly, output sentiment for the next 12 months rose to a three-month high. Jonas Feldhusen, junior economist at Hamburg Commercial Bank, said in the May Spain PMI report: 'Spain's manufacturing sector sent encouraging signals in May. Whether this improvement is partly attributable to early signs of easing in the global tariff conflict remains uncertain. 'While Spain's direct dependence on the U.S. market is relatively limited compared to countries like Germany or Italy, indirect effects from a generally improved global trade outlook may also be contributing.' The HCOB Germany manufacturing PMI for May came down to 48.3, down from April's 48.4, according to S&P Global. This was the 35th month in a row of contraction in the German manufacturing sector, although output advanced for the third month in a row. Manufacturing output was mainly supported by rising export orders from the US and Europe, although overall new orders still fell marginally, dampened by lagging domestic demand. Job cuts slowed to the weakest pace since January 2024, with input stock declines and purchasing activity decreases also slowing. Input prices continued to fall, dragged down by lower oil prices, lagging demand and a stronger euro. Robust competition led to more factory gate price cuts in May, while optimism about future output soared to the highest level since early 2022. Dr. Cyrus de la Rubia noted in the May Germany PMI report: 'Most people have got so used to gloomy headlines from the industrial sector that the good news often slips under the radar. That is why it is worth looking beyond the headline PMI figure, which dipped slightly and is still in contraction territory. The broader picture actually shows some encouraging signs. 'Production has now increased for the third month in a row, and foreign orders have been on the rise for two straight months. What's more, the uptick in output is not limited to just one area – it is showing up across the board, in capital goods, intermediate goods and consumer goods.' He further noted that business sentiment may be optimistic due to the formation of a new government, along with a large infrastructure package, the promise of tax breaks and plans to increase defence spending.

Asian markets rise as traders eye possible Trump-Xi talks
Asian markets rise as traders eye possible Trump-Xi talks

France 24

timean hour ago

  • France 24

Asian markets rise as traders eye possible Trump-Xi talks

After a period of relative calm on the tariff front, Donald Trump at the weekend accused Beijing of violating last month's deal to slash huge tit-for-tat levies and threatened to double tolls on steel and aluminium. The moves jolted Asian markets on Monday, but hopes that the US president will speak with Chinese counterpart Xi Jinping -- possibly this week -- has given investors some hope for a positive outcome. Meanwhile, oil prices extended Monday's surge on a weak dollar and Ukraine's strike on Russian bombers parked deep inside the country that stoked geopolitical concerns as well as stuttering US-Iran nuclear talks. Trump has expressed confidence that a talk with Xi could ease trade tensions, even after his latest volley against the Asian superpower threatened their weeks-old tariff truce. "They violated a big part of the agreement we made," he said Friday. "But I'm sure that I'll speak to President Xi, and hopefully we'll work that out." It is unclear if Xi is keen on a conversation -- the last known call between them was in the days before Trump's inauguration in January -- but the US president's economic adviser Kevin Hassett signalled on Sunday that officials were anticipating something this week. US Treasury Secretary Scott Bessent -- who last week warned negotiations with China were "a bit stalled" -- said at the weekend the leaders could speak "very soon". Officials from both sides are set for talks on the sidelines of an Organisation for Economic Co-operation and Development (OECD) ministerial meeting in Paris on Wednesday. While there has been no movement on the issue, investors took the opportunity on Tuesday to pick up recently sold shares. Hong Kong gained more than one percent while Shanghai returned from a long weekend on the front foot. There were also gains in Tokyo, Sydney, Wellington, Singapore, Taipei and Manila. Seoul was closed for a presidential election. Deals queued up? The advances followed a positive day on Wall Street led by tech giants in the wake of a forecast-beating earnings report from chip titan Nvidia. Still, National Australia Bank's Rodrigo Catril remained nervous after Trump's latest salvos. "The lift in tariffs is creating another layer of uncertainty and tension," he wrote in a commentary. "European articles suggest the lift in tariffs doesn't bode well for negotiations with the region (and) UK steelmakers call Trump doubling tariffs 'another body blow'," he added. "The steel and aluminium tariffs also apply to Canada, so they will likely elicit some form of retaliation from there and while US-China trade negotiations are deteriorating due to rare earth, student visas and tech restrictions, steel tariffs will also affect China." Separately, US Commerce Secretary Howard Lutnick on Monday voiced optimism for a trade deal with India "in the not too distant future", adding that he was "very optimistic". And Japanese trade point man Ryosei Akazawa is eyeing another trip to Washington for more negotiations amid speculation of a deal as early as this month. Also in focus is Trump's signature "big, beautiful bill" that is headlined by tax cuts slated to add up to $3 trillion to the nation's debt. Senators have started weeks of what is certain to be fierce debate over the mammoth policy package, which partially covers an extension of Trump's 2017 tax relief through budget cuts projected to strip health care from millions of low-income Americans. Oil prices extended Monday's surge that saw West Texas Intermediate briefly jump five percent on concerns about an escalation of the Russia-Ukraine conflict and suggestions Washington could hit Moscow with stricter sanctions. That compounded news that the OPEC+ producers' grouping had agreed a smaller-than-expected increase in crude production. Traders were also monitoring tensions over Iran's nuclear programme after Tehran said it would not accept an agreement that deprives it of what it calls "peaceful activities". Key figures at around 0230 GMT Tokyo - Nikkei 225: UP 0.2 percent at 37,546.85 (break) Hong Kong - Hang Seng Index: UP 1.2 percent at 23,425.37 Shanghai - Composite: UP 0.2 percent at 3,352.06 Euro/dollar: DOWN at $1.1431 from $1.1443 on Monday Pound/dollar: DOWN at $1.3532 from $1.3548 Dollar/yen: UP at 143.05 yen from 142.71 yen Euro/pound: UP at 84.48 pence from 84.46 pence © 2025 AFP

In Canada lake, robot learns to mine without disrupting marine life
In Canada lake, robot learns to mine without disrupting marine life

France 24

timean hour ago

  • France 24

In Canada lake, robot learns to mine without disrupting marine life

The exercise was part of a series of tests the robot was undergoing before planned deployment in the ocean, where its operators hope the machine can transform the search for the world's most sought-after metals. The robot was made by Impossible Metals, a company founded in California in 2020, which says it is trying to develop technology that allows the seabed to be harvested with limited ecological disruption. Conventional underwater harvesting involves scooping up huge amounts of material in search of potato-sized things called poly-metallic nodules. These nodules contain nickel, copper, cobalt, or other metals needed for electric vehicle batteries, among other key products. Impossible Metals' co-founder Jason Gillham told AFP his company's robot looks for the nodules "in a selective way." The prototype, being tested in the province of Ontario, remains stationary in the water, hovering over the lake bottom. In a lab, company staff monitor the yellow robot on screens, using what looks like a video game console to direct its movements. Using lights, cameras and artificial intelligence, the robot tries to identify the sought-after nodules while leaving aquatic life -- such as octopuses' eggs, coral, or sponges -- undisturbed. 'A bit like bulldozers' In a first for the nascent sector, Impossible Metals has requested a permit from US President Donald Trump to use its robot in American waters around Samoa, in the Pacific. The company is hoping that its promise of limited ecological disruption will give it added appeal. Competitors, like The Metals Company, use giant machines that roll along the seabed and suck up the nodules, a highly controversial technique. Douglas McCauley, a marine biologist at the University of California, Santa Barbara, told AFP this method scoops up ocean floor using collectors or excavators, "a bit like bulldozers," he explained. Everything is then brought up to ships, where the nodules are separated from waste, which is tossed back into the ocean. This creates large plumes of sediment and toxins with a multitude of potential impacts, he said. A less invasive approach, like that advocated by Impossible Metals, would reduce the risk of environmental damage, McCauley explained. But he noted lighter-touch harvesting is not without risk. The nodules themselves also harbor living organisms, and removing them even with a selective technique, involves destroying the habitat, he said. Impossible Metals admits its technology cannot detect microscopic life, but the company claims to have a policy of leaving 60 percent of the nodules untouched. McCauley is unconvinced, explaining "ecosystems in the deep ocean are especially fragile and sensitive." "Life down there moves very slowly, so they reproduce very slowly, they grow very slowly." Duncan Currie of the Deep Sea Conservation Coalition said it was impossible to assess the impact of any deep sea harvesting. "We don't know enough yet either in terms of the biodiversity and the ecosystem down there," he told AFP. According to the international scientific initiative Ocean Census, only 250,000 species are known, out of the two million that are estimated to populate the oceans. High demand Mining is "always going to have some impact," said Impossible Metals chief executive and co-founder Oliver Gunasekara, who has spent most of his career in the semiconductor field. But, he added, "we need a lot more critical minerals, as we want to electrify everything." Illustrating the global rush toward underwater mining, Impossible Metals has raised US$15 million from investors to build and test a first series of its Eureka 3 robot in 2026. The commercial version will be the size of a shipping container and will expand from three to 16 arms, and its battery will grow from 14 to nearly 200 kilowatt-hours. The robot will be fully autonomous and self-propel, without cables or tethers to the surface, and be equipped with sensors. While awaiting the US green light, the company hopes to finalize its technology within two to three years, conduct ocean tests, build a fleet, and operate through partnerships elsewhere in the world. © 2025 AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store