President Trump says the EU “will pay a very big price” for fining Google $1 billion for allegedly breaking antitrust regulations by favoring its own search engine and app store, Google Pay, over competitors.
Mr. Trump, who has criticized Europe for its treatment of U.S. tech companies for years, said he’s opening a Section 301 investigation into EU trade practices, setting the table for new tariffs on goods they send to American markets.
“The United States of America is not a ‘PIGGYBANK’ for Europe, nor will we allow it to be! Please let this TRUTH serve to represent that we will immediately initiate a 301 Investigation into the practice of ‘ROBBING’ American Companies and, in turn, the American Taxpayer,” he said Friday on social media.
Mr. Trump’s threat combines two key issues for him — punishing Europe for its crackdown on U.S. tech companies, plus gaining leverage over foreign nations through duties on goods imported into the U.S. market.
He says Europe’s regulations on tech companies are burdensome and unfair.
“The European Union is at it again and, as usual, taking direct aim at GREAT American Companies! After having fined Apple, for no reason at all, 15 Billion Dollars, Meta, 3 Billion Dollars, Amazon 2.5 Billion Dollars, and many others, we have just been informed that Google, a truly advanced and amazing group, has been fined yet another 1 Billion Dollars, without explanation,” he said.
Mr. Trump’s threat to slap new levies on EU products arrives one day after he set 10% to 12.5% tariffs on goods from 60 countries, saying they failed to enact or enforce rules against the importation of goods using forced labor.
Critics of the move say tariffs increase prices for Americans since importers sometimes pass the cost of duties along to their customers.
Small-business groups and free-market champions also faulted Mr. Trump for cracking down on forced labor on the same day a separate batch of tariffs expired, saying the administration seemed to prejudge the outcome of investigations.
Mr. Trump on Friday said he was confident his latest investigation into the European Union would result in penalties.
“The penalties will be entirely reversed and, we anticipate, a substantial TARIFF to be placed on them at the earliest possible moment,” he wrote.
