The US will defend American companies from digital and environmental regulations taking effect in the European Union that may unfairly target them, according to the new US ambassador to the EU.
Concerns include the digital services and the digital markets acts, as well as ESG-related directives and the broader regulatory environment, said Andy Puzder, President Donald Trump’s appointee for the EU job. Just last week regional rules led to a $3.5 billion antitrust fine against advertising policies at Alphabet Inc.’s Google.
The Trump administration has complained about European initiatives that make business conditions harder for American companies, and Puzder is the president’s point man in the EU to fix that.
Puzder, who helped spur the anti-ESG movement in the US, wants a repeal of what he calls “draconian pieces of legislation,” as part of a focus on reducing Europe’s regulatory approach. At the same time, the former chief executive officer of the company that operated the Hardee’s and Carl’s Jr. fast-food chains said the US and Europe must work together to align their common interests to oppose China and Russia.
“There’s more discussion about what to do with the regulatory maze that’s been created over here over the past 30 years,” Puzder said in an interview from Brussels. The focus should be on simplifying “the regulatory barriers” that are impairing companies’ business in the region, he said.
Puzder made a name for himself in the US three years ago when he became a central figure in leading a network of like-minded Republicans in the war against environmental, social and governance investing.
What began as a scattershot, state-by-state effort to undermine ESG advocates turned into a coordinated effort that has had national impact, with investors pulling money from ESG-labeled funds for 11 straight quarters.
After Trump regained the White House in January, he nominated Puzder to be US ambassador to the EU and his appointment was confirmed last month by the Senate. He assumed the role on Thursday.