Donald Trump has threatened a new tariff over fines imposed on some of America’s top tech companies and said the US will start an investigation into the European Union. This comes days after the European Commission fined Google $1bn (€890m) for conducting its business in a way that squeezed out competitors to its services.
The EU will pay a “very big price” over how it had treated Google, along with other major US tech companies Apple, Meta and Amazon, which have also been examined, the US president claimed on a post on Truth Social, which Trump owns.“The United States of America is not a ‘PIGGYBANK’ for Europe, and we will not allow it to become one!” he wrote.
Trump said any fines should be “entirely reversed” and he was starting a trade inquiry of the EU while considering “a substantial TARIFF”. He said the US would “immediately launch a 301 investigation” into the alleged practice of European authorities “robbing American companies and, in turn, the American taxpayer”.
The Office of the United States Trade Representative (USTR) is authorized by The Trade Act of 1974 Section 301 to act and investigate trade practices thought to be unfair. The second Trump Administration has initiated a number of such inquiries since last year.
Also Read:
Peter Duliba: Empowering Businesses for Strategic AI Usage – Europeanmirror
