Trump vows to investigate EU fines levied against US companies
What's the story
US President Donald Trump has announced plans to investigate the European Union's (EU) fines on American tech giants like Apple, Google, and Meta. The investigation will focus on the fines the EU has levied. In a post on Truth Social, Trump slammed the EU for its actions against US companies and promised to reverse these penalties while imposing a "substantial tariff."
Accusations
Trump's accusations against the EU
Trump accused the EU of unfairly targeting major US companies, including Apple, Meta, Amazon, and Google.
He claimed that these companies were fined exorbitant amounts without any valid reason or explanation.
The total fines on Google alone have exceeded $18 billion, according to Trump.
He described these actions as "illegal and highly discriminatory" practices that started during President Biden's first year in office.
Protection promise
The United States of America is not a 'PIGGYBANK'
Trump promised that these unfair practices would not continue under his administration.
He said, "The United States of America is not a 'PIGGYBANK' for Europe, nor will we allow it to be!"
He added that his administration would launch an investigation into the practice of robbing American companies and taxpayers.
The President also warned the EU could face heavy consequences for its illegal conduct.
Trade tensions
US-EU relations strained over big tech regulation
Trump's threat comes as the US and EU continue to clash over the regulation of big tech companies.
The EU has stepped up enforcement of its competition and digital rules in recent years, targeting the market power and business practices of large tech platforms.
The potential for a new investigation and tariffs could further strain transatlantic trade relations amid ongoing negotiations over market access, technology regulation, and economic ties.