Search

The article discusses European regulators imposing growth-killing rules on U.S. companies through the Corporate Sustainability Due Diligence Directive, which includes stringent environmental and labor standards. The regulation targets U.S. companies with European market revenue exceeding €450 million and indirectly affects smaller businesses by requiring compliance with environmental, social, and governance standards. The Biden-Harris administration's lack of resistance to the EU's overreach raises concerns about ceding authority to foreign lawmakers and circumventing the democratic process. The authors, Mr. Hagerty and Mr. Hill, call for engagement with the EU to delay implementation of the regulation and protect U.S. businesses from extraterritorial reach. [Extracted from the article]