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Wednesday, October 2, 2024

Tuberville urges Biden administration to address EU regulatory impact on US businesses

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US Senator for Alabama | US Senator for Alabama website

US Senator for Alabama | US Senator for Alabama website

U.S. Senator Tommy Tuberville (R-AL) and U.S. Senator Bill Hagerty (R-TN) have called on the Biden administration to address what they describe as regulatory overreach from the European Union. The senators, along with several colleagues, signed a letter urging Treasury Secretary Janet Yellen and other senior officials to protect U.S. economic interests.

"The CSDDD’s extraterritorial scope amounts to a serious breach of U.S. sovereignty and a direct threat to the global competitiveness of American companies," wrote Senator Tuberville and his colleagues. They argue that the Biden-Harris Administration has not shown an effective strategy for engaging with European officials on this issue.

Joining Senators Tuberville and Hagerty in signing the letter are U.S. Senators John Barrasso (R-WY), John Boozman (R-AR), Mike Braun (R-IN), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), Tom Cotton (R-AR), Kevin Cramer (R-ND), Mike Crapo (R-ID), Ted Cruz (R-TX), Steve Daines (R-MT), Lindsey Graham (R-SC), Mike Lee (R-UT), Cynthia Lummis (R-WY), Jerry Moran (R-KS), Pete Ricketts (R-NE), Jim Risch (R-ID), Mike Rounds (R-SD), Eric Schmitt (R-MO), Tim Scott (R-SC), Dan Sullivan (R-AK), Thom Tillis (R-NC), John Thune (R-SD) and Roger Wicker (R-MS).

In the House of Representatives, U.S. Representative Andy Barr introduced companion legislation, supported by Representatives Jodey Arrington, Dan Bishop, Buddy Carter, James Comer, Dan Crenshaw, John Curtis, Byron Donalds, Jeff Duncan, Tom Emmer, Drew Ferguson, Scott Fitzgerald, Chuck Fleischmann, Mike Flood, Andrew Garbarino, Morgan Griffith, Erin Houchin, Bill Huizenga, Young Kim, Nick Langworthy, Jake LaTurner, Mike Lawler, Barry Loudermilk, Dan Meuser, Carol Miller, Alex Mooney Ralph Norman Zach Nunn Andy Ogles August Pfluger Bill Posey John Rose David Schweikert Bryan Steil Claudia Tenney Glenn Thompson William Timmons Ann Wagner Roger Williams Rob Wittman.

The letter criticizes the EU's Corporate Sustainability Due Diligence Directive for imposing significant legal obligations on U.S. businesses and converting various international principles into binding laws with enforcement mechanisms including monetary penalties.

"Secretary Yellen," the letter states "The European Union has long been known for implementing vague regulations that hinder business growth." The signatories express concern that these regulations will force American companies to comply with standards not ratified by the United States.

The senators argue that such policies should be determined by elected representatives in America rather than "overseas bureaucrats." They urge active engagement with EU counterparts to delay or modify the directive to preserve U.S. sovereignty and economic competitiveness.

Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of several committees including Armed Services and Agriculture.

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