"Trump Criticizes EU's $3.5 billion fine on Google as Unjust, Threatens Additional Tariffs"
The European Union (EU) has imposed a record fine of nearly $3.5 billion on Google for abusing its dominant position in the online advertising market, marking the fourth time the tech giant has been penalised by EU competition regulators in a decade.
In a statement, Teresa Ribera, the European Commission's top antitrust regulator, accused Google of abusing its dominant position in ad tech, causing harm to publishers, advertisers, and consumers. The EU found that Google gave its own ad exchanges a competitive advantage over rivals, a practice it has been ordered to stop.
This decision comes amidst ongoing trade negotiations between the EU and the Trump administration. US President Donald Trump has expressed his disapproval of the EU's fine on Google, stating that it should stop the practice against American Companies immediately. He also threatened to impose more tariffs on the EU shortly after the fine was announced.
Trump's disapproval of the EU's fine on Google is not a mere tweet storm. He has stated that his Administration will start a Section 301 proceeding to nullify the unfair penalties being charged to American companies. Trump's stance on the matter was further solidified by his post on his social media platform Truth Social.
The US investigation could potentially impact the long-term trade relationship between the EU and the US. The EU-US trade deal is far from certain, as many European leaders have expressed dissatisfaction with the framework since its approval.
Google, for its part, has announced its intention to appeal the decision, calling the fine "wrong and unjustified." Lee-Anne Mulholland, Google's Global Head of Regulatory Affairs, made the statement on behalf of the company. It is important to note that Google has a history of paying billions in false claims and charges, with the total amount reaching $16.5 billion dollars.
The EU's antitrust case against Google is not a new development. In the past, Google has been fined billions for antitrust violations, including a €4.34 billion ($5 billion) fine in 2018 for favouring its own shopping service in search results. This latest fine brings the total to over €8 billion ($9.45 billion) in fines imposed by the EU on Google.
As the EU-US trade deal remains uncertain and tensions rise, the future of the tech industry, particularly Google, remains a topic of global interest. The tech giant will need to navigate both the EU's antitrust scrutiny and the potential impact of the US investigation as it moves forward.
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