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@ Layer3.news
2025-03-06 22:37:27
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REPUBLICAN LAWMAKERS QUESTION ‘LEGITIMACY’ OF EU REGULATION FOR US BUSINESSES
https://media.zenfs.com/en/sourcing_journal_735/6e32ecf2b3035cef44e17c1a0978a697
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✍️ A group of Republican lawmakers is urging the Trump administration to support calls by France and others to indefinitely postpone the implementation of a supply chain due-diligence law that is already being kneecapped by efforts across the Atlantic to ease regulatory burdens on European Union businesses.
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👉 The CSDDD requires companies to carry out in-depth due diligence assessments on first-tier suppliers once every five years
👉 The law imposes stringent due diligence requirements on in-scope companies to identify, mitigate and eliminate human rights and environmental abuses in their supply chains
👉 The lawmakers argue that the law will disproportionately hurt American businesses and reduce already anemic growth rates in Europe
👉 The law undermines U.S. jurisdictional sovereignty and could violate American directors' fiduciary duty to act in the best interest of their shareholders
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#FrenchHill #ScottBessent #KevinHassett #TimScott #AnnWagner #BillHagerty #AndyBarr #ScottNova #RachelKibbe #DonaldTrump #Arkansas #SouthCarolina #Missouri #Tennessee #Kentucky #Europe #UnitedStates #Switzerland #Davos #politics
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