The European Union is preparing countermeasures in response to US President Donald Trump’s planned “reciprocal tariffs” on all trading partners, effective Apr. 2.

The EU is considering actions targeting major American tech companies, such as Google, Amazon, and X (formerly Twitter). This could include increased regulation, financial transaction taxes, or restrictions on access to European public contracts.

The recently enacted Digital Markets Act may also come into play, with the European Commission set to rule on potential violations by companies like Apple and Meta.

European Commission President Ursula von der Leyen emphasized that “Europe holds a lot of cards,” and all options are on the table for retaliation.

The EU’s Anti-Coercion Instrument, which allows for broad trade responses, could target US tech companies, though it requires approval from member states.

Despite this, Brussels is also open to negotiations, with EU Trade Commissioner Maroš Šefčovič willing to engage in talks with U.S. counterparts to resolve trade barriers and boost cooperation.