Shortly after the EU fined Google $2.95 billion ($3.47 billion) for breaking anti-monopoly laws, U.S. President Donald Trump threatened to impose more taxes on the bloc on Friday.
“Europe today ‘hit’ another great American company, Google, with a $3.5 billion fine, effectively taking money that would otherwise go to American investments and jobs,” Trump stated on his Truth Social platform immediately following the EU ruling. The American taxpayer will not tolerate such injustice.
“As I have said before, my administration will NOT allow these discriminatory actions to stand … I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these taxpaying American companies,” Trump stated.
Google was fined about $3.5 billion by the EU on Friday for abusing its market dominance by providing its own ad exchanges with a competitive edge over competitors. Google was likewise forced to cease these tactics by the EU. In an antitrust lawsuit, Brussels has fined the corporation billions of euros for the fourth time.
In a statement, Teresa Ribera, the senior antitrust regulator for the European Commission, stated, “Today’s decision shows that Google abused its dominant position in ad tech, harming publishers, advertisers, and consumers.”
Google promised to challenge the ruling.
Throughout trade talks between the bloc and the Trump administration, the EU’s implementation of digital norms was frequently brought up.
