Experts with Public Policy Solutions have deemed the EU’s administration of its digital regulations as a form of protectionism, but Lutnick argued that the EU and United States would mutually benefit from the EU easing up on its digital regulations, which disproportionately impact American companies.
“The idea is if they take the foot off this regulatory framework and make it more inviting for our companies, they can get the benefit of hundreds of billions, possibly one trillion of investment,” Lutnick said.
Lutnick and Greer’s meeting in Brussels comes as the European Union launched an investigation last week into AWS and Microsoft and Google owned Alphabet based on alleged violations to the EU’s Digital Markets Act, which would likely result in hefty fines.
The investigation, announced during a “Digital Sovereignty” conference, has garnered the sharp rebuke of Joe Grogan, Founder and President of Public Policy Solutions and Former Assistant to President for Domestic Policy, who sees the investigation by the EU as creating a roadblock at the United States and EU seeks to finalize its trade deal.
“While the EU tries to mask its true intent in regulatory complexity, the truth is this investigation into our major tech companies is little more than a calculated political maneuver aimed at squeezing one of the most important American exports,” Joe Grogan told the National News Desk.
Read more on The National News Desk.