券商中国·2025-06-21 12:25Core Viewpoint - The article discusses a potential trade agreement between the US and the EU that could benefit American tech giants by providing them with legal exemptions during negotiations related to the EU's Digital Markets Act [1][4]. Group 1: Trade Agreement Details - The US and EU are reportedly close to finalizing a "reciprocal trade agreement" that addresses non-tariff trade disputes, including digital regulation, environmental policies, and industrial cooperation [2]. - The agreement may grant US tech companies a legal exemption from enforcement actions under the EU's Digital Markets Act during the negotiation period [2][4]. - The draft agreement does not address existing tariffs imposed by former President Trump, including a 20% "reciprocal tariff" and higher tariffs on specific industries like automobiles and steel [3][12]. Group 2: Implications for Tech Companies - The exemption for US companies could significantly weaken the enforcement of the EU's Digital Markets Act, which has already led to substantial fines for companies like Apple and Meta [5][6]. - Apple was fined €500 million and Meta €200 million for violations of the Digital Markets Act, with both companies indicating intentions to appeal these decisions [5][6]. - The White House has criticized the EU's fines as a form of "economic extortion," suggesting that such regulations are seen as trade barriers against American companies [7]. Group 3: EU's Position and Negotiation Dynamics - The EU appears to be willing to make concessions in tariff negotiations, moving away from a previous stance that demanded the complete removal of US tariffs [8]. - There is a diminishing internal demand within the EU for retaliatory measures against the US, as many governments are concerned about the economic repercussions of such actions [9]. - The EU is looking to establish a "landing zone" for negotiations on a 10% "baseline tariff" before advancing to specific sector tariff discussions [10][11].