On April 16, AmCham hosted a webinar to discuss the business impact of the new U.S. Administration. Experts from Baker McKenzie discussed the current direction and specific policies in the United States as they affect Europe, covering tariffs, tax, antitrust, and people. The key topics addressed are below:
Trade & Tariffs: U.S. tariffs on imports from Canada, Mexico, and China aim to boost domestic manufacturing but negatively affect the EU, especially Germany and the Netherlands. The EU has reinstated retaliatory tariffs and is seeking trade diversification.
Tax Policy: Expiring provisions from the Tax Cuts and Jobs Act could affect U.S. consumption and business climate. Trump’s proposed tax changes include lower rates for manufacturing and higher taxes on millionaires, alongside a unilateral approach that defies OECD tax reforms.
Global Tax Policy Impact: The U.S. rejection of OECD’s global tax proposals may increase uncertainty for multinational companies. In response, the EU may introduce a 3% digital services tax on large tech firms.
Antitrust Enforcement: U.S. antitrust enforcement remains strong, with continued focus on big tech and political influence shaping enforcement decisions. Some deregulatory steps have been introduced, like easing merger procedures.
Labour & Employment: U.S. executive orders ending DEI programs clash with EU and Dutch laws that mandate and protect such initiatives. Companies in Europe face legal hurdles in rolling back DEI policies due to strong regulatory and works council frameworks.
We cordially thank all speakers for an insightful session!
