EXCLUSIVE: The FTC is ‘colluding’ with the EU to use American taxpayer dollars to STIFLE
EXCLUSIVE: The FTC is ‘colluding’ with the EU to use American taxpayer dollars to STIFLE business competition, top GOP senator says
- Cruz is specifically concerned with two new laws approved by the EU that are ‘expressly designed to weaken American companies’
- A new study recently found that the costs imposed on U.S. companies could range from $22 billion to $50 billion
Republican Sen. Ted Cruz is concerned that the Federal Trade Commission is abusing taxpayer dollars by working closely with the EU and other foreign lawmakers to stifle business competition.
In a letter exclusively obtained by DailyMail.com from Cruz to FTC Chairwoman Lina Khan Tuesday, the Texas senator demands information regarding the agency’s use of taxpayer resources to ‘directly coordinate with foreign lawmakers to create new regulations in overseas jurisdictions that target American businesses.’
‘Your agency’s collusion with foreign governments not only undermines U.S. sovereignty and Congress’s constitutional lawmaking authority, but also damages the competitiveness of U.S. firms and could negatively affect the savings of millions of Americans who hold stock in those companies via retirement savings accounts and pension plans,’ the senator states.
Cruz is specifically concerned with two new laws approved by the EU that are ‘expressly designed to weaken American companies.’
Cruz is specifically concerned with two new laws approved by the EU that are ‘expressly designed to weaken American companies’
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 Castle Elmau in Kruen in 2022
He says the Digital Markets Act and the Digital Services Act boost the EU’s revenue ‘under the guise of consumer protection and competition.’
The two laws ‘objectively discriminate’ against U.S. companies by imposing ‘enormous regulatory compliance costs and penalties on them, while handing companies from other countries—especially China—a competitive edge.’
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 study also found that ’16 percent’ of European companies surveyed would switch from an American tech provider to a Chinese tech provider because of those anticipated costs.
‘It is one thing for the EU to target U.S. businesses, however misguided such efforts may be. But it is altogether unthinkable that an agency of the U.S. government would actively help the EU do so.’
Cruz is demanding information on what the FTC’s work in Europe entails. He wants answers on how many employees, contractors and agents the FTC has sent to Europe since June 2021.
The top senator also sent an additional letter is to the EU’s newly opened San Francisco office regarding the actions it is taking to enforce the EU’s laws on U.S. soil.
Across 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 ‘looking into an alarming pattern of FTC exporting its authority to Europe to achieve FTC’s political goals.’
Comer is also seeking information on what the FTC employees work in Europe consists of.
The top Republican says his committee is questioning ‘whether the FTC is working in secret to achieve its ideological goals.’