This marks Google’s fourth major EU antitrust penalty, totaling $16.5 billion according to Trump
Washington: US President Donald Trump has threatened to impose additional tariffs on the European Union (EU) shortly after the bloc imposed a 2.95-billion-euro fine, or $3.47 billion, on Google for violating anti-monopoly laws.
Immediately following the EU’s decision, Trump stated on Friday on his Truth Social platform, “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!”
Trump continued, “As I have stated 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.
Details of the EU fine against google
The EU announced on Friday a fine of nearly $3.5 billion against Google for abutilizing its market dominance by giving its own ad exmodifys a competitive advantage over rivals. The EU also ordered Google to halt these practices. It is the fourth occasion that Brussels has sanctioned the company with a multibillion-euro fine in an antitrust case.
“Today’s decision reveals that Google abutilized its dominant position in ad tech, harming publishers, advertisers and consumers,” Teresa Ribera, the European Commission’s top antitrust regulator, declared in a statement. Google has vowed to appeal the decision
EU fines and ongoing US-EU trade tensions
The EU’s digital regulation enforcement featured prominently in trade neobtainediations between the bloc and the Trump administration. Earlier on Friday, the EU declared 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 dispute 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 stated. “How crazy is that? The European Union must stop this practice against American Companies, IMMEDIATELY!” Trump posted on his social media platform Truth Social.
US investigation threat and trade framework uncertainty
A US investigation could present a significant challenge to the EU, which recently reached a hard-fought but controversial trade framework with the US this summer.
Despite all 27 bloc members voting in favour of the framework, many European leaders have since expressed dissatisfaction, and a long-term trade agreement with the US remains uncertain.
(IANS inputs)
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