Topline
President Donald Trump said Friday the U.S. will investigate and reverse fines the European Union has made against American tech companies in the last five years, threatening to impose tariffs against the bloc in retaliation.
Key Facts
Trump addressed in a Truth Social post a $1 billion fine the EU handed down against Google this week over antitrust violations.
The president characterized the fines against Google, Apple, Meta and Amazon as an “illegal and highly discriminatory practice” that began when former President Joe Biden took office in 2021.
Trump said an investigation will be made into “the practice of ‘ROBBING’ American Companies and, in turn, the American Taxpayer,” claiming the penalties against the companies will be “entirely reversed.”
Trump also said his administration anticipates “a substantial TARIFF to be placed on [the EU] at the earliest possible moment.”
Forbes has reached out to the European Commission for comment.
Why Was Google Fined $1 Billion?
The EU said it fined Google $1 billion for structuring its app marketplace and search engine to favor its own services and apps, undercutting competition. The EU said Google specifically violated the Digital Markets Act, an antitrust law passed in 2022 that has helped the union go against other companies like Meta and Apple.
Big Number
At least $8 billion. That is how much money’s worth of fines the EU has issued against Amazon, Apple, Google and Meta since 2021.
Key Background
Trump signed a memorandum in February that sought to combat European countries’ punitive measures on American companies with tariffs. Europe is heavily reliant on U.S. tech firms, which provide over 80% of the bloc’s digital products, services, infrastructure and intellectual property. However, that has not stopped the EU from disciplining American tech giants, namely through the Digital Markets Act. In addition to the recent $1 billion fine against Google, the law has also been used to impose a $570 million fine against Apple and a $227 million fine against Meta last year, penalizing the latter company for failing to provide users with free versions of its platforms that collected less personal data and performed equally to paid versions.
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