The news: Europe is considering taxing the digital ad revenues of tech giants like Google and Meta if tariff negotiations with President Donald Trump fail, per the Financial Times.

Ursula von der Leyen, president of the European Commission, said the Commission is “developing retaliatory measures” to prepare for unsuccessful negotiations, adding that “an example is you could put a levy on the advertising revenues of digital services.”
Von der Leyen added that the EU is seeking a “completely balanced” agreement with Washington during the current 90-day tariff pause.

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