U.S. Senator Tommy Tuberville (R-AL) has joined Senator Bill Hagerty (R-TN) and several other lawmakers in a bipartisan letter to Treasury Secretary Janet Yellen, urging the Biden-Harris administration to defend U.S. economic interests against regulatory encroachment by the European Union (EU).
The letter specifically targets the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), which they argue poses a serious threat to the competitiveness of American companies.
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“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,” said the letter. “The Biden-Harris Administration must meaningfully respond.”
The lawmakers expressed concern over the CSDDD, which imposes stringent legal obligations on U.S. companies, including compliance with international environmental and human rights conventions, even though the U.S. has not ratified many of them. The directive could force American companies to overhaul their supply chains and business relationships to meet EU regulations.
The letter criticizes the Biden-Harris administration for a lack of clear strategy in addressing this issue, despite Treasury Secretary Yellen acknowledging the problem in her recent testimony before the House Financial Services Committee.
The lawmakers called for stronger engagement with European officials to delay or modify the implementation of the directive to protect U.S. interests.
Senators Tuberville and Hagerty are joining a host of Republican senators in signing the letter, including John Barrasso (R-WY), Mike Braun (R-IN), Ted Cruz (R-TX), and Lindsey Graham (R-SC). Rep. Andy Barr (R-KY-06) and several House members introduced a companion letter in the House of Representatives.
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