WASHINGTON — A global attempt to prevent large, multinational companies from shifting their profits to lower-tax jurisdictions is setting off a fight between the United States and Europe, as policymakers on both sides of the Atlantic spar over efforts to impose new taxes on foreign firms.

On Wednesday, the European Commission is expected to take aim at Silicon Valley’s tech giants with a proposal to seriously revamp how technology companies are taxed in the 28-nation European Union. The plan, outlined in a draft obtained by The New York Times, would tax digital media companies based on where they generate revenue, rather than where they have their regional headquarters, which are often in countries like Ireland and Luxembourg that have lower tax rates.

The proposal comes in the wake of the new $1.5 trillion tax law that President Trump signed last year, which tried to crack down on profit-shifting by imposing a new minimum tax on the overseas earnings of any companies with United States operations. The international provisions in the United States tax law have angered some European leaders, who say they go too far and may violate World Trade Organization rules.

The global tensions — and the dueling tax efforts — stem from a shared concern among foreign governments that large, multinational corporations are not paying their fair share of taxes to the countries where they do business. American tech giants like Amazon, Apple and Google have kept their tax bills low for years by keeping profits overseas in lower-tax jurisdictions.