The European Union’s latest attempt to dictate to American companies how they do business is the most pernicious. Progressive-Democrat President Joe Biden and his Vice President and Party Presidential candidate Kamala Harris whole-heartedly agree with the EU’s power putsch, as demonstrated by their silence on the move [emphasis added].
In May the EU adopted the Corporate Sustainability Due Diligence Directive, which converts a range of international conventions into binding law enforceable on American companies. ….
The new regulation forces US companies to adhere to the EU’s “net zero” carbon emissions target and to comply with onerous labor-related standards—even when they exceed the requirements of US law. ….
Though the regulation directly targets US companies with European market revenue exceeding €450 million (about $500 million), it indirectly harms small and medium-size businesses too. It requires big companies to police their subsidiaries and supply chains….
This is just one more reason for American businesses to find other outlets than EU member nations. It’s also justification for foreign policy-centric tariffs, as opposed to protectionist tariffs, to be applied to imports from EU nations, tariffs equal to the cost to American businesses of complying with the EU’s extra-territorial diktats.
Sadly, it will require a change of administrations and Senate makeup (and an expanded Republican House majority) in order to take any action to protect American businesses and American sovereignty. The Harris-Biden administration is so disdainful of American business success that they agree with the EU’s extension of its control over our privately and publicly owned enterprises.