President Donald Trump on Friday threatened the European Union with an investigation that could lead to higher tariffs, after the EU fined Google billions of dollars for violating its antitrust laws.
The EU announced earlier 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.
Trump on Friday criticized the EU’s fine, saying in a Truth Social post that the money Google will be forced to pay “would otherwise go to American Investments and Jobs.”
“This is on top of the many other Fines and Taxes that have been issued against Google and other American Tech Companies, in particular,” Trump added. “Very unfair, and the American Taxpayer will not stand for it!”
Trump said his administration may launch a Section 301 investigation against the EU in retaliation, a procedural measure that could lead to retaliatory tariffs. That could serve as a big blow to the EU, which landed a hard-fought but controversial trade framework with the United States over the summer.
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