Washington: US President Donald Trump has threatened to impose more tariffs on the European Union (EU) shortly after the bloc slapped a 2.95-billion-euro fine, or $3.47 billion, on Google for violating anti-monopoly laws.
Right after the EU decision, Trump said on Friday on his Truth Social platform that “Europe today ‘hit’ another great American company, Google, with a $3.5 Billion Dollar fine, effectively taking money that would otherwise go to American Investments and Jobs … Very unfair, and the American Taxpayer will not stand for it!”
“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,” the US President added.
The EU announced on Friday a fine of nearly $3.5 billion against Google for abusing its market dominance by giving its own ad exchanges a competitive advantage over rivals.
The EU also ordered Google to stop these practices.
It is the fourth time Brussels has sanctioned the company with a multibillion-euro fine in an antitrust case.
“Today’s decision shows that Google abused its dominant position in ad tech, harming publishers, advertisers and consumers,” Teresa Ribera, the European Commission’s top antitrust regulator, said in a statement.
Google vowed to appeal the decision.
The EU’s enforcement of digital regulations came up regularly during trade negotiations between the bloc and the Trump administration.
The EU announced earlier on Friday that Google must pay a €2.95 billion ($3.45 billion) antitrust fine for anti-competitive practices in its lucrative ad tech business, marking its fourth penalty in its decade-long fight with EU competition regulators.
“Google has also paid, in the past, $13 Billion Dollars in false claims and charges for a total of $16.5 Billion Dollars,” Trump said.
“How crazy is that? The European Union must stop this practice against American Companies, IMMEDIATELY!” Trump posted on his social media platform Truth Social.
A US investigation could serve as a big blow to the EU, which landed a hard-fought but controversial trade framework with the US this summer.
Although the 27 members of the bloc voted in favour of the framework, many European leaders have since griped about it, and a long-term trade deal with the US is far from a certainty.
IANS
