However US (and other multinational) companies set up subsidiaries and then funnel money through them to get tax breaks thanks to bilateral double-taxation-avoidance agreements. These would be affected, but they've structured themselves this way intentionally so that their profits are collected in a company headquartered in the EU. (Though it should be noted that headquartering EU operations in an EU country is generally a requirement for dealing with EU consumers without tarrifs and so on, but many multinationals funnel their international money through the EU company).

You can't have it both ways. Either you're an EU company which gives you certain tax breaks, or you're a US company that has no tax benefits in the EU for global revenue.

Too many people here act like this is something specifically aimed at US companies, when in reality it's not. US companies just happen to be affected the most by it due to their dominance in this particular business sector.

But this is something that has been long overdue and was bound to happen regardless of who was dominating that sector.

[0] https://ec.europa.eu/taxation_customs/sites/taxation/files/p...