U.S. President Donald Trump said on July 25 that his administration would immediately launch a Section 301 investigation into what he described as the European Union’s targeting of American companies. In a post, Trump accused the EU of unfairly penalizing major U.S. firms and said the practice would not continue under his administration. He specifically cited fines of $15 billion against Apple, $3 billion against Meta, $2.5 billion against Amazon, and another $1 billion against Google, adding that Google’s total fines now exceed $18 billion. Trump called the EU’s actions “illegal” and “highly discriminatory,” and said the issue had escalated during the first year of President Joe Biden’s administration. He also said the United States is not Europe’s “piggy bank,” adding that the penalties would be fully rescinded and that high tariffs on the EU were expected to be imposed as soon as possible.
BlockBeats reported on July 25 that U.S. President Donald Trump said he would move to confront what he described as the European Union’s repeated targeting of American companies.
In a post, Trump said the EU was once again going after major U.S. businesses. He cited what he called unjustified penalties, including a $15 billion fine against Apple, $3 billion against Meta, and $2.5 billion against Amazon, along with penalties on other companies.
He also said Google had been hit with another $1 billion fine “without any explanation,” bringing Google’s total fines to more than $18 billion.
Trump described the EU’s actions as “illegal” and “highly discriminatory.” He said the situation had reached a high level during the first year of Joe Biden’s administration, but would not continue under a Trump administration. He added that the United States is not Europe’s “piggy bank” and would not allow itself to be treated as one.
Trump said the United States would immediately launch a Section 301 investigation into what he called the EU’s “looting” of American companies and the resulting harm to U.S. taxpayers.
He also said the EU would pay a “very substantial” price for what he called illegal and deeply immoral conduct. According to Trump, those fines would be fully rescinded, and the United States expected to impose steep tariffs on the EU as soon as possible.
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