EXCLUSIVE: The FTC is ‘colluding’ with the EU to use American taxpayer dollars to STIFLE business competition, top GOP senator says
EXCLUSIVE: The FTC is ‘conspiring’ with the EU to use US tax dollars to stifle competition among companies, says top Republican Party senator
- Cruz is specifically concerned about two new laws approved by the EU that are “expressly designed to weaken US companies”
- A new study recently found that the costs imposed on US companies could range from $22 billion to $50 billion
Republican Senator Ted Cruz is concerned that the Federal Trade Commission is misusing taxpayers’ money by working closely with the EU and other foreign lawmakers to suppress competition between companies.
In a letter obtained exclusively from Cruz by DailyMail.com to FTC Chair Lina Khan, the Texas senator is requesting information about the agency’s use of tax dollars to “coordinate directly with foreign lawmakers to create new regulations in overseas jurisdictions targeting US companies.”
“Your agency’s collusion with foreign governments not only undermines U.S. sovereignty and the constitutional legislature of Congress, but also harms the competitiveness of U.S. businesses and could negatively impact the savings of millions of Americans raised through retirement savings accounts and retirement plans.” holding shares in those companies. ‘ says the senator.
Cruz is specifically concerned about two new laws passed by the EU that are “expressly designed to weaken US companies.”
Cruz is specifically concerned about two new laws approved by the EU that are “expressly designed to weaken US businesses”
Group of seven leaders – including European Commission President Ursula von der Leyen and Joe Biden – pose during a group photo at the G7 Summit at Elmau Castle in Kruen in 2022
He says the Digital Markets Act and the Digital Services Act boost EU revenues “under the guise of consumer protection and competition.”
The two laws objectively “discriminate against” US companies by imposing “massive compliance costs and fines on them, while giving companies from other countries – especially China – a competitive advantage.”
A new study recently found that the costs imposed on U.S. companies could range from $22 billion to $50 billion.
According to Cruz, the survey also found that “16 percent” of European companies surveyed would switch from a US technology supplier to a Chinese technology supplier because of the expected costs.
It is one thing for the EU to target American companies, however misguided such efforts may be. But it is completely inconceivable that an agency of the US government would actively assist the EU in this.’
Cruz demands information about what the FTC’s work in Europe entails. He wants answers about how many employees, contractors and agents the FTC has sent to Europe since June 2021.
The top senator also sent an additional letter to the newly opened EU office in San Francisco about the actions it is taking to enforce EU laws on US soil.
On the other side of the Capitol, House Oversight Chairman James Comer is also taking action.
The chairman sent letters Monday to Khan and commissioners Rebecca Slaughter and Alvaro Bedoya “inquiring into an alarming pattern in which the FTC is exporting its authority to Europe to further the FTC’s political objectives.”
Comer is also seeking information about the work of FTC employees in Europe.
The Republican top says its committee is wondering “whether the FTC is secretly working to achieve its ideological goals.”