France pushes EU-wide taxes on US tech giants to fund €2 trillion budget

France is urging the European Union to adopt new taxes on large American digital companies and foreign polluters as a way to raise revenue for the bloc’s upcoming €2 trillion seven‑year budget. President Emmanuel Macron argues that the EU cannot rely solely on higher national contributions and seeks "own resources" such as levies on carbon emissions, electronic waste, tobacco, corporate profits, cryptocurrencies, online gambling and foreign airlines. The proposal aims to collect roughly €400 billion between 2028 and 2034, which would cover about one‑fifth of the next multi‑annual financial framework.

The effort comes amid stalled negotiations on a revenue package that earlier proposals from the European Commission faced resistance from several member states. Ireland, holding the EU Council presidency, has been asked to present an ambitious tax package before the October leaders’ summit, while the European Council president hopes for a budget deal by December 2026. France sees the tax plan as a way to avoid increasing its own national contribution ahead of the 2027 presidential election, whereas countries such as Germany worry about possible retaliatory measures from the United States.