Mar 21, 2018

Europe announces new tax proposal targeting US tech companies

The European Union has looked skeptically on large American tech companies. Photo: Thierry Monasse/Corbis via Getty Images

The European Commission proposed a new tax Wednesday that stands to hit major web companies like Google and Facebook. The new 3% tax on revenue applies to certain online businesses, including digital ads and ride-hailing, but The Wall Street Journal reports that not every country that's a member of the E.U. is on board.

Why it matters: It's the latest move in Europe to crack down on powerful American tech giants.

What the EU is saying: In a press release, the EU says the measure is intended to ensure digital companies "contribute their fair share of tax" since current tax rules weren't designed to account for virtual companies with little or no physical presence within borders.

What US tech firms are saying: While acknowledging tax changes should be made to reflect today's digital economy, tech trade association Information Technology Industry Council says the move "harms business certainty in Europe and would chill trade and investment from companies across the globe."

Go deeper: The Financial Times breaks down the potential impact of the proposal.

Go deeper

Updated 2 hours ago - Politics & Policy

George Floyd protests: Unrest continues for 6th night across U.S.

A protest near the White House on Sunday night. Photo: Alex Wong/Getty Images

Most external lights at the White House were turned off late Sunday as the D.C. National Guard was deployed and authorities fired tear gas at hundreds of protesters nearby, per the New York Times.

What's happening: It's one of several tense, late-night standoffs between law enforcement and demonstrators in the United States.

Updated 7 hours ago - Politics & Policy

Journalists get caught in the crosshairs as protests unfold

A man waves a Black Lives Matter flag atop the CNN logo outside the CNN Center during a protest in response to the police killing of George Floyd, Atlanta, Georgia, May 29. Photo: Elijah Nouvelage/Getty Images

Dozens of journalists across the country tweeted videos Saturday night of themselves and their crews getting arrested, being shot at by police with rubber bullets, targeted with tear gas by authorities or assaulted by protesters.

Driving the news: The violence got so bad over the weekend that on Sunday the Cleveland police said the media was not allowed downtown unless "they are inside their place of business" — drawing ire from news outlets around the country, who argued that such access is a critical part of adequately covering protests.

Inside Trump's antifa tweet

President Trump at Cape Canaveral on May 30. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

As recently as Saturday night, senior administration officials told me that the designation of a violent cohort of far-left activists, antifa, as a terrorist organization was not being seriously discussed at the White House. But that was Saturday.

Behind the scenes: The situation changed dramatically a few hours later, after prominent conservative allies of the president, such as his friend media commentator Dan Bongino, publicly urged a tough response against people associated with antifa (short for "anti-fascist").