US criticizes India, EU over stalemate in trade talks
What's the story
US Trade Representative Jamieson Greer has criticized the European Union (EU) and India for their lack of progress in trade negotiations. The criticism comes as talks are set to continue into the new year. Greer raised concerns over EU regulations on American tech companies, calling them discriminatory against US firms. He also noted that negotiations with India have yet to yield an agreement this year.
Retaliation threat
US threatens retaliation against EU's tech regulations
Greer has threatened retaliation against the EU over its plans to tax US tech companies. His office's social media post specifically mentioned Accenture, Siemens, and Spotify as potential targets for new restrictions or fees. The proposed EU policies are aimed at regulating US tech giants such as Alphabet Inc's Google, Meta Platforms, and Amazon.
EU's defense
EU defends its stance
In defense of its approach, the EU has said it has revenue thresholds for the new regulatory framework. However, Greer argued that these measures seem to specifically target US companies. The bloc's trade commissioner Maros Sefcovic had previously stated that they are "going to protect our tech sovereignty."
Ongoing talks
US-India trade negotiations remain unresolved
The US-India trade negotiations have been ongoing for months, with little progress made so far. This week, the two sides met in New Delhi to continue discussions. The talks come after US President Donald Trump and Prime Minister Narendra Modi's fourth call since Trump imposed heavy tariffs of up to 50% on Indian goods in August.