Trump issues trade sanction warnings over EU's imposition of $3.46B fine on Google
The European Union (EU) announced earlier this week that it had imposed a fine of €3.46 billion ($3.46 billion) on Google, a subsidiary of Alphabet Inc., for stifling competition in the online advertising market.
The fine, the largest antitrust penalty ever levied by the EU, has been met with criticism from U.S. President Donald Trump. Trump denounced the EU's decision, stating that the penalties are being charged to taxpaying American companies.
In a post on his Truth Social platform, Trump expressed his disapproval of the fine, claiming it as unfair. He went on to threaten a broader trade investigation, suggesting a possible Section 301 proceeding to nullify the unfair penalties against American companies.
The EU accused Google of abusing its dominance in the online advertising market, specifically by favouring its own advertising services over those of competitors. The fine is a result of Google's repeated rule violations, according to the EU.
Trump's statement came in response to the antitrust fine against Google by the EU. He has stated that he will start a Section 301 proceeding to nullify the unfair penalties against American companies, although no specific date has been provided in the available information.
The potential trade investigation, if launched, could escalate tensions between the U.S. and the EU, particularly at a time when both parties are already engaged in a dispute over digital taxes.
This is not the first time Google has faced antitrust action from the EU. In 2018, the company was fined €4.34 billion for abusing its dominant position in online search. Google has since appealed the decision.
The ongoing saga between Google and the EU continues to unfold, with potential implications for the tech industry and international trade relations.
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